Together, Separately: The Art of the Multigenerational Home
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The definition of a family legacy is changing. It looks less like precious jewellery or fine art, and more like a considerable estate, designed for multiple generations to live, gather and grow within, together.
Across Australia's prime residential market, ultra-high-net-worth families are increasingly commissioning and acquiring homes built for future decades of shared family life. Rather than a traditional second home, these places are designed to host several generations under one roof, where grandparents, adult children and grandchildren each have their own space and autonomy.
Multi-generational living is growing across Australia. The 2021 census reported that three-generation households grew by 22 per cent in Australia between 2016 and 2021, from 275,000 to 335,000. At the same time, more than one in six Australians is now aged 65 or over, a share that has risen steadily for decades.
The demographics tell only part of the story. Set against the greatest intergenerational wealth transfer in Australian history - an estimated $3.5 to $5.4 trillion is expected to pass between generations over the coming decades - it's clear why families are increasingly choosing to consolidate that wealth not in financial instruments, but in property. In a home that holds everyone.
More than a practical arrangement, multigenerational living is emerging as a significant trend in luxury real estate - strengthening emotional connections, sharing the responsibilities of care, and forging family legacies that endure.
12 Hill Street, Toorak | Expansive living spaces and multiple entrances make it ideal for extended families.
The financial logic is clear: pooling resources allows families to secure higher quality homes, better locations, and future-proofed properties that might not be achievable individually. The result is not simply more space, but a more elevated lifestyle, shared across the family.
The brief has to work for everyone: the grandparents' practical needs, the couple's aesthetic vision, kids who'll grow up and into the space. The difference between a large house and a truly successful multigenerational home lies not in size, but in how thoughtfully it supports daily life across every generation living within it.
Each generation arrives with its own priorities. Grandparents may be stepping back from daily demands, yet still value a home that gathers the family around them. Generation X often sits between two responsibilities, balancing ageing parents with adult children who are slower to leave home. For younger buyers, flexibility is paramount. Yet across every age group, the common thread is a desire for a home that enhances quality of life for decades to come.
And the solutions are, more often than not, ingeniously simple. Separate entries allow different generations to come and go without disrupting one another. A second master suite on the ground floor gives ageing parents or adult children genuine independence. Soundproofed walls, floors and ceilings prevent the friction that shared living can sometimes produce.
Step-free thresholds, wider doorways and accessible bathrooms ensure the home works as well at eighty as it does at eight. Kitchenettes, zoned heating and smart lighting allow each part of the household to operate independently.
Then there are the spaces where the generations meet - expansive outdoor living areas with pools, BBQ and fireplace for long weekend afternoons, kitchens generous enough that conversations happen over the cooking, games rooms that double as home cinemas when the occasion calls for it.
Where these homes sit is equally important. A rural estate with multiple dwellings, a coastal home unfolding across levels, or a city residence close to schools and healthcare - each shapes a different way of living, and a different expression of togetherness.
For affluent families, these estates represent more than a lifestyle choice - they are strategic investments that create space for the family to thrive across generations while protecting and growing family wealth. Whether used for holidays or year-round living, multigenerational homes offer the chance to deepen family connections and create a lasting real estate legacy.
