Single occupants are a growing demographic in Melbourne, with more homes being taken on by individuals who are living alone.
Research highlighted by the Real Estate Institute of Victoria (REIV) and collated as part of the Australian Bureau of Statistics census revealed the suburbs of St Kilda, St Kilda West, Carlton, Elwood and South Yarra have all seen a significant rise in this type of dwelling in the last year.
REIV policy and public affairs manager Robert Larocca told Australian Property Investor: "New developments clearly respond to this demographic trend by building residences more suited to single people."
He added that understanding who is buying homes and the number of people residing within in them is key information for developers, as this allows them to tailor projects to ensure all new residences are attractive to buyers.
Earlier this month, the news provider revealed the number of private sales taking place in Melbourne has risen in the last month, with both buyers and sellers concerned with keeping costs to a minimum.
Posted by Steve Douglas
