The future: coast land & suburbia?
- Thread starter agent007
- Start date
The sea change phenomena exists , BUT it is also over rated for many . My parents moved to central coast ( waterfront property ) when they were in late 50's, Lasted about six years, moved back to syd ( randwick) and now living in the leafy North Shore.
Some of this had to do with lack of infrastucture and the wealthier retire's want to be close to good restaurants, and ... the Opera.
They are close to their family and grandkids, get to watch them play sport and act as baby sitters. The next generation were to busy to go and visit them as much as was planned.
Good suburban areas , close to facilities will always do well in the long term, though if an area has no distinguishing features it may lag.
The best of both would be Sydney Northern beaches....
See change
Some of this had to do with lack of infrastucture and the wealthier retire's want to be close to good restaurants, and ... the Opera.
They are close to their family and grandkids, get to watch them play sport and act as baby sitters. The next generation were to busy to go and visit them as much as was planned.
Good suburban areas , close to facilities will always do well in the long term, though if an area has no distinguishing features it may lag.
The best of both would be Sydney Northern beaches....
See change
See-Change I think you are absolutely spot on!
I am in Melb and the same thing is happening here as Im sure it is everywhere else in oz.
In the late 80's hordes of vics headed for the Gold Coast to buy a Jims Mowing/ Brain Surgery/ Heart ByePass or Legal franchise.
I felt like doing the same but resisted the urge and sure enough within five years most of them were back to the cold winters and.?...Family !
I think a big percentage of boomers will move to outer coastal areas and within a few years return to a top city beachside city suburb within 45 minutes drive of their loved ones......If by then they can afford it.
Apart from family as you stated other benefits of a city appeal to boomers like myself.......Infrastructure....transport,hospitals, sporting venues, theatre, opera, restaurants....Privacy!
Personally I will be skipping the coastal small town beach house and settle somewhere around the Bay in Melbourne, crank the fake log fire up and stick a Rolling Stones CD on.
Cheers
I am in Melb and the same thing is happening here as Im sure it is everywhere else in oz.
In the late 80's hordes of vics headed for the Gold Coast to buy a Jims Mowing/ Brain Surgery/ Heart ByePass or Legal franchise.
I felt like doing the same but resisted the urge and sure enough within five years most of them were back to the cold winters and.?...Family !
I think a big percentage of boomers will move to outer coastal areas and within a few years return to a top city beachside city suburb within 45 minutes drive of their loved ones......If by then they can afford it.
Apart from family as you stated other benefits of a city appeal to boomers like myself.......Infrastructure....transport,hospitals, sporting venues, theatre, opera, restaurants....Privacy!
Personally I will be skipping the coastal small town beach house and settle somewhere around the Bay in Melbourne, crank the fake log fire up and stick a Rolling Stones CD on.
Cheers
I also went to the Property Expo and heard Bernard Salt's interesting talk on Baby Boomers and the Seachange phenomenon. Certainly the coastal drive by the BBs will let us ride the wave for the next say ten years but be very careful after that. You may find they are a bit stagnant as the next generation doesn't have the same dreams. Having just bought down the coast, my children are looking at me like I have two heads - the beach is boring unless you have a group of 20 or so friends, mobile phones have to be "in range" and you better have satellite at least for the computer hook up otherwise they turn pale, pasty and suffer acute withdrawal symptoms. He also talked about the Manhattanisation of Generation Xers who have been brought up on Seinfeld, Sex in the City, Frasier and Friends, all devoted apartment dwellers, not the Brady Bunch or My Three Sons (God, I'm showing my age now), not to mention being able to wander at will on Gilligan's Island or heading off to the "Lower 40" on National Velvet. Their dream is the inner city hub, glistening, high tech unit. If you think we are overdeveloped and oversupplied in the inner city, Bernard pointed out that the densest area in Sydney is Kings X/Potts Point with about 18000 per skm. Compare this with Manhattan at 59,000 per sq km and I think you will see where we may be headed. By the way, you have to virtually sell yourself just to rent in Manhattan let alone own anything.
In brief, I'd look coastal for a few years within 2 hours of major capital cities but buy now not in ten years, then maybe well-positioned, 5-10 k of CBD or near water, townhouses and houses with small, no maintenance courtyards for the over fifties who have given up on the coast and moved back. They will want access to water and parks nearby for the grandkids but not the suburban block particularly. That's my gut feeling.
In brief, I'd look coastal for a few years within 2 hours of major capital cities but buy now not in ten years, then maybe well-positioned, 5-10 k of CBD or near water, townhouses and houses with small, no maintenance courtyards for the over fifties who have given up on the coast and moved back. They will want access to water and parks nearby for the grandkids but not the suburban block particularly. That's my gut feeling.
Hey Hey Seech- I'm with you there 100% Lovely part of the world, the northern beaches of Sydney. It's my final destination, anyway 
As for all this talk of baby boomers scuttling off to the coastal and country towns, I really can't see it happening unless some of their family members move with them. Medium density housing closer to where they already live (or within 20km of the grandkids) is where most of them will want to be. As long as they can afford security, privacy and low maintenance housing in a chosen locale, most will choose this option. I know I would! (got a bit of a way to go yet, though)
As for all this talk of baby boomers scuttling off to the coastal and country towns, I really can't see it happening unless some of their family members move with them. Medium density housing closer to where they already live (or within 20km of the grandkids) is where most of them will want to be. As long as they can afford security, privacy and low maintenance housing in a chosen locale, most will choose this option. I know I would! (got a bit of a way to go yet, though)
