As well as the ageing baby boomers, central Auckland is home to many young people. Most rent, while others buy, disillusioned at ever being able to enter the conventional housing market (which starts at just under $700,000 for anything decent in the ‘burbs) but who can buy a freehold city studio (26-32 m2) say, for maybe $220,000.
The obvious attraction of walking to work and not having to take out a second mortgage to fill the car with petrol brings many young professionals who can toil, play, eat and sleep within a kilometre-wide circle. Despite recent immigration downturns, the city is still a magnet for new arrivals and ex-pats. The numbers of Asian students may be less these days as many of the language schools have
diversified or closed down, but there are still plenty of students generally.
There are now “serial city residents”, those who have tried it, liked it and have upgraded or just figured out exactly what they like about apartment living and bought to suit.