Higher Density Higher Price

Recent research has supported the idea that there is an increasing appetite for apartment living in high-rise developments.

In a study performed by Urban Taskforce, using the Australian Bureau of Statistics to identify trends, revealed that the average price of an apartment is higher in areas that are of greater density.

CEO of Urban Taskforce, Chris Johnson, said "we have accessed the average sales price of apartments in the densest areas and compared this data to nearby areas of lower density"

"The result of this research is that the sales price of apartments goes up in areas of higher density. The market is showing a clear preference for apartment living in taller towers in denser urban areas", Johnson continued.

Whilst luxury and location is clearly important, amenities are taken very seriously by the consumer, as it has proven to be one of the main drivers for apartment sales.

"These precincts often include restaurants, cafes, gyms, health clinics, cinemas, theatres and jobs close by," said Johnson.

"There has been a perception by some in the community that apartment towers are generally of lower value than mid-rise apartments but the research data is telling a different story", Johnson concluded.