Half of over-55s are open to downsizing — if they can find homes that suit them

A house for sale seen in Canberra


THE EMPHASIS is for Older Australians to downsize to create housing opportunities … allegedly … for younger households by freeing up ‘Family Homes’ …

BUT who are these ‘younger households’?

HOUSE PRICES in Sydney have risen sharply recently with buyers from both Hong Kong and China again in our housing market, and our aspiring Australian First Home Buyers are left holding their ‘loan approvals’ locked out by the flow of ‘black money’

DOWNSIZING opens the market for developers and overseas buyers!

OLDER AUSTRALIANS may be tempted by the ‘hot money price rise’ but in turn it is destroying Our Society as our Families are forced into short term tenancy … having to find alternative accommodation and meet prohibitively expensive moving costs!



Half of over-55s are open to downsizing — if they can find homes that suit them

The Conversation By Amity James, Steven Rowley and Wendy Stone


PHOTO: Downsizing, or rightsizing, is considered an essential component of meeting the housing aspirations of older Australians. (AAP: Lukas Coch)

Half of over-55s are open to downsizing – if only they could find homes that suit them

February 12, 2020


  1. Amity JamesSenior Lecturer, School of Economics, Finance and Property, Curtin University
  2. Steven RowleyHead of School, Economics, Finance and Property, Curtin University. Director, Australian Housing and Urban Research Institute, Curtin Research Centre, Curtin University
  3. Wendy StoneAssociate Professor, Centre for Urban Transitions and Director, Australian Housing and Urban Research Institute Swinburne Research Centre, Swinburne University of Technology

More than half of Australians over the age of 55 are open to downsizing, according to a new report based on a survey of 2,400 households.

The main barrier to moving to a smaller home is a lack of housing that matches their needs and preferences. The rapid growth in the number of older Australians adds to the major challenge housing markets face in meeting their diverse housing needs.

Downsizing, or rightsizing, is considered an essential component of meeting the housing aspirations of older Australians. At the same time, downsizing creates housing opportunities for younger households by freeing up family homes.

CAAN: The issue with this is that in Older Australians selling … ‘the buyers’ … in the majority appear to be either developers or overseas buyers with ‘hot money’. Aspiring Australian First Home Buyers may have the loan approval however, they are outbid by ‘hot money’!

Read more: What sort of housing do older Australians want and where do they want to live?

The ageing population also creates fiscal challenges for government, in terms of delivering services to the home and providing residential care. Downsizing can enable older Australians to age well and age in place rather than potentially move prematurely into residential care.

The report released today by the Australian Housing and Urban Research Institute (AHURI), for which 2,400 households over 55 were surveyed, found 26% of such households had downsized. Another third had thought about it. Overall, the findings point to a strong appetite among older Australians to downsize their dwellings.

With about 6.5 million Australians aged 55 or older, living in about 4.3 million households, our findings suggest downsizing could be relevant to 2.5 million households.

Why downsize? And what are the obstacles?

We know older Australians downsize in response to life events such as changes in health and relationship status, or children leaving the parental home. Lifestyle preferences and difficulties maintaining their garden or house also shape downsizing behaviour.

Barriers to downsizing include a lack of suitable housing and a lack of financial incentives. There are also emotional and physical barriers to moving. Financial factors, however, do not greatly impact the decision to move, nor does perceived financial well-being increase once they have downsized.

Read more: Downsizing cost trap awaits retirees – five reasons to be wary

CAAN: Strata titles can apply to multi-dwelling developments and duplex! Not just apartment developments! Very expensive!

Reason 1 – upfront moving costs are high

Reason 2 – levies are high

Reason 3 – costs of maintenance

Reason 4 – loss of financial security

Reason 5 – loss of security of tenure

Loss of security of tenure is usually associated with renters. However, the recent introduction of termination legislation in New South Wales gives other owners the right to vote to terminate a strata title scheme. When this occurs, all owners, including reluctant owners of apartments within that scheme, are compelled to sell.

Where those who had downsized were dissatisfied, this was most commonly related to the new dwelling, particularly its size, and the neighbourhood.

Is it actually downsizing?

One of the policy rationales for downsizing is to reduce the underutilisation of dwellings. However, this is at odds with the attitude of many older Australians.

They consider “spare” bedrooms necessary for use as permanent guest rooms (58%), studies (50%), or dedicated rooms for children or grandchildren (31%).

Space remains important to Australian downsizers. Over half of them move to a dwelling with three or more bedrooms. A third move to an apartment.

However, two-thirds of downsizers surveyed did move to a dwelling with fewer bedrooms. Three bedrooms was the preferred dwelling size for older Australians. Downsizing the garden was essential for most.

Author provided

Older Australians aspire to attain or retain home ownership. Their preferred neighbourhood has shopping, medical, recreational and public transport services all within walking distance.

Downsizers appear mobile. While under a quarter downsized within their original neighbourhood, 42% moved to a neighbourhood completely new to them.

The survey finding of a lack of suitable housing options matching would-be downsizers’ preferences may explain why so few were able to downsize in their original neighbourhood.

Delivering what older Australians want

If the local market does not have enough options available to meet the needs of older households, it is very difficult to downsize within an existing community. Moving to another desired location can also be problematic.

Meeting the needs of older Australians generally means an increase in medium-density housing. Developers are likely to require incentives to produce these medium-density products rather than potentially more profitable high-density development – although there is, of course, a downsizing market for well-located apartments.

Most downsizers want less garden to maintain, but still want a three-bedroom home. Ben Romalis/Shutterstock

Read more: People want and need more housing choice. It’s about time governments stood up to deliver it

The retirement industry has begun responding to the aspirations of older Australians. It is developing larger dwellings and offering a growing range of options, from high-end to affordable — all of which are accessible and suitable for ageing in place.

Equity-rich older Australians may wish to build a new dwelling in which to downsize. But they are often unable to borrow for this unless they have considerable capital available.

To support this avenue, new development finance models could be created to allow older Australians to develop without first having to sell the primary home. This shift would allow more collaborative forms of development, such as a group of like-minded individuals developing a site as housing for a small community.

Read more: Co-housing works well for older people, once they get past the image problem

For those vulnerable private renters moving into retirement, more secure rental accommodation through the social housing sector and delivered privately is essential. The community housing sector has a key role to play.

Where next?

The Australian housing landscape must shift towards a model of dwelling diversity with secure tenures – ownership and rental – in neighbourhoods where residents can walk easily to weekly services and recreation facilities, participate socially and be close to public transport options.

Read more: Fall in ageing Australians’ home-ownership rates looms as seismic shock for housing policy

Design is equally important. Australians need adaptable dwellings that can change to meet housing needs.

Such a landscape will provide effective downsizing options in which households can age well in the places that best meet their needs and aspirations.

Read more: For Australians to have the choice of growing old at home, here is what needs to change

SOURCE: https://theconversation.com/half-of-over-55s-are-open-to-downsizing-if-only-they-could-find-homes-that-suit-them-130531



SEARCH CAAN WEBSITE for more Reports!



Introducing DOWNSIZING: A New Way to Reach AUSTRALIA’s Most Active BUYERS …

OH … yes another paid advertising ploy, self promotion, and above all a business opportunity.

Above all else it’s about making money.

This lot are making themselves out as if they are the authors of all things good about buying and selling for those over 50, and are attracted to buying something smaller.

Well, do they detail any of the pitfalls of moving into a ‘retirement living’ complex?

-do they get into an analysis of the costs and other conditions that may apply?

It’s ‘buyer beware’ … it always has been …

Remember how the Residents in AVEO were ripped off … as revealed in the Four Corners ‘BLEED THEM DRY … UNTIL THEY DIE’ … AVEO has now sold out to Brookfield and Villagers money is now off to the Caymans!


Introducing Downsizing: A New Way to Reach Australia’s Most Active Buyers


Buoyed by decades of capital growth in their family home, and looking for lifestyle-rich properties, downsizers are an increasingly important target market for Australian developers.

The good news is that, with the launch of Downsizing.com.au, developers now have a new way to reach this booming over 50s market.

Downsizing.com.au is the new name of the portal founded as Seniors Housing Online in 2003 by NSW-based sisters-in-law Catherine and Amanda Graham.

Catherine and Amanda founded the company following a fruitless online search for retirement property for an elderly relative.

Over the past 16 years, the portal has been used by millions of Australians to find traditional seniors housing, such as retirement villages or land lease communities.

Now, the portal is expanding its focus to all downsizer-friendly property, including apartments and villas, with the launch of a refreshed mobile-friendly website and new product offerings.

“The changes we are announcing today cement our position as Australia’s number one destination for all over 50s property,” Amanda said.

“We are making this change to reflect the fact that baby boomers are doing things differently and want to look for a wide range of accommodation options.

“They are downsizing with vastly higher lifestyle expectations and greater freedom of choice than prior generations. We also know that developers are changing their approach to better cater for this market segment.”

Downsizing.com.au has a loyal following, with some 165,000 overall website visits each month and more than 40,000 email subscribers and Facebook followers.

CAAN too would like more than 40,000 … why not 100,000 LIKES to inform more of you about the FACTS!

Like our Facebook and Search our Website




Downsizing.com.au’s audience is undergoing rapid growth, with a 116 per cent increase in property listing views and a 36.6 per cent increase in email inquiries submitted about listed properties between June 2018 and June 2019.

Alongside its new website, Downsizing.com.au has launched five weekly State newsletters, supported by a newsroom with interesting and insightful consumer-facing content by senior professional journalists.

This content seeks to provide advice and information to guide consumers through the many options available in retirement living and downsizing.

Downsizing.com.au has also launched a series of new client services, including sponsored content, newsletter advertising and sponsored social media boosts.

Downsizers are a huge market opportunity

A report by CBRE in May 2019, found that owner-occupiers (including downsizers) are dominating Australia’s key Sydney and Melbourne real estate markets, particularly with the withdrawal of many overseas investors.

The report found that the percentage of sales to owner-occupiers between October 2018 and March 2019 jumped from 42 per cent to 52 per cent in Sydney and 39 per cent to 53 per cent in Melbourne.

The increasing downsizer activity is not surprising.

Many older Australians are sitting on substantial wealth to fund their downsizing purchase (they have seen the value of their homes grow 412 per cent over the last 25 years alone).


‘The majority of these homeowners are motivated by the need to find more manageable and lifestyle-rich later life properties, rather than specific market conditions.

There have never been more Australians in the downsizing age group, and the population is set to continue expanding throughout the rest of this century.

In June 2018, some 8.3 million Australians were aged 50 and over, 11 per cent more than the 7.51 million five years earlier.

According to Productivity Commission, about one in five of this huge number of over 50s will downsize at some stage during their lives.

The buyers are taking advantage of an Australian Government tax incentive, which allows downsizers to top-up their superannuation by releasing equity from the family home. In fact, since July 2018, downsizers have put $1 billion into their superannuation funds.

For more information about Downsizing.com.au, please click here.


AUTHOR Partner 

SOURCE: https://theurbandeveloper.com/articles/introducing-downsizing-a-new-way-to-reach-australias-most-lucrative-and-active-buyers?utm_medium=email&utm_campaign=171019%20NSW&utm_content=171019%20NSW+CID_cc58583621f6025a3cefc83c138e59c4&utm_source=email&utm_term=Continue%20Reading





7.30: Pressure on Government to overhaul age pension as growing number of Baby Boomers leave workforce

IS Deloitte Access Economics’ Chris Richardson walking on both sides of the street at the same time?

Mr Richardson says there is no case for reducing the Australian age pension.

“Our pensions are not generous. You look at our wages and our pensions, and that rate in Australia is not terribly high compared to what’s paid elsewhere in the world,” he said.

*But there is a case, he argues, for INCLUDING THE FAMILY HOME in the means testing for age pension eligibility.

*“You have some people who have incredibly valuable homes and yet qualify for the pension.”

IS Richardson saying the pension is affordable then says because of the burden it generates the budget will need to include the ‘family home’ in the means test?

IS what is being said that the family home of the pensioner (a full taxpayer for 40 years or more) is to be means tested … if you find your home is in an area well sought after … the value of your very modest home increases … and you will be forced to sell your home?

IS it about ‘asset recycling’ allegedly for younger generations to get their hands on the family home?

When in fact they are locked out by low wages and insecure work (on contract) …

With the pensioner forced to sell to keep their pension …?

OR is this about opening the market for wealthy people (the Elite Housing Class including overseas buyers)?

IS it about providing them with ‘a supply’ for a growing class of landowners, the so-called Aspirationals … which class may become very powerful … and further boost ‘the Rights’ voter base … by growing the opportunity to expand their ownership of private wealth in Australia … philosophically growing a Cohort … ?

Pressure on Government to overhaul age pension as growing number of baby boomers leave workforce



10 JULY 2019

Wendy Walters wears glasses and a yellow top
PHOTO Wendy Walters does not have much superannuation and says she could not live without the age pension.ABC NEWS: CHRIS GILLETTE

The Federal Government is coming under pressure to make changes to the age pension, as a growing number of baby boomers are expected to leave the workforce over the next decade.

Key points:

  • The Federal Government is reviewing the deeming rate used to calculate how much income pensioners are earning from assets
  • By 2029, it is predicted the government will be required to spend an additional $9 billion on the age pension
  • Economist Chris Richardson says the pension age should be lifted and the family home should be means tested

Analysis by the Parliamentary Budget Office (PBO) predicts an ageing population will require an increase in government spending of $16 billion by 2029.

More than $9 billion of that will be on the age pension.

“The age pension is eminently affordable, but we can and we should do stuff better,” Deloitte Access Economics’ Chris Richardson told 7.30.

Mr Richardson said the PBO analysis strengthened the case for further raising the pension age, which is currently at 66 years. In 2023 it will become 67 years.

“If we’re going to live a lot longer, well, chances are we’re going to have to work a bit longer to pay for the bits when we’re not working,” he said.

Photographer Roger Arnaud, 64, thinks raising the pension age is a terrible idea.

He is finding it hard to get full-time employment, does not have a lot of superannuation and is planning to take the pension as soon as possible.

“I actually believe that it would be a lot better if the Government actually lowered the pension age,” he said.

“There’s a lot of people who’ve moved to over 60 and they’re never going to find work again.”

Roger Arnaud holds a camera

Review of ‘deeming rate’ used to calculate pension

With record low interest rates there is pressure to widen pension eligibility by easing the means test.

The Government is reviewing the so-called deeming rate used to calculate how much income pensioners are earning from their assets.

This deeming rate has not changed in more than four years.

“Should they reduce it? I think they should,” Gold Coast pensioner Julie-Anne James said.

“Given that we’ve got a 1 per cent interest rate with the Reserve Bank at the moment, no-one is earning big money on their cash in the bank.”

Julie-Anne James wears a red top

Ms James does not have a lot of super and she knows many women in a similar situation.

“We just survive. We earned lower super, lower wages,” she said.

The pension helps her live an independent life, and she is looking forward to helping care for her grandchildren.

“I don’t think all of us do live the life we want to live. We don’t have a choice, it is what it is.”

Wendy Walters sits at a desk

Bundaberg retiree Wendy Walters worked in the community care sector and now has a relatively small superannuation nest egg.

She has just been granted the age pension.

“I think I worked out I’ve probably got six years [in super funds] and I’m certainly not going to be gone in six years, I can tell you that. I don’t intend to,” she said.

If there wasn’t the pension, I wouldn’t be living. That’s the reality.

“I always knew that I was probably in a situation where I would never be able to live terribly well. Having said that, one of the great things about my generation is that we do OK with very little.”

Should the family home be means tested?

Mr Richardson says there is no case for reducing the Australian age pension.

*“Our pensions are not generous. You look at our wages and our pensions, and that rate in Australia is not terribly high compared to what’s paid elsewhere in the world,” he said.

Chris Richardson wears a suit and tie

*But there is a case, he argues, for including the family home in the means testing for age pension eligibility.

“The politics are horrendous, but it is still the right thing to do,” he said.

*“You have some people who have incredibly valuable homes and yet qualify for the pension.”

The idea horrifies Ms James, who is still paying off the mortgage on her Gold Coast apartment.

My home doesn’t generate an income so I don’t see it as being an asset … because I pay body corporate [fees], I pay a lot of bills to live here.

Mr Richardson says pension reform is a hard conversation for politicians, but it is possible to have a sensible debate.

“The basic recipe is simple: concentrate on those who need the most help.”

SOURCE: https://mobile.abc.net.au/news/2019-07-10/pressure-to-overhaul-age-pension-as-baby-boomers-leave-workforce/11295722?pfm=sm







A graphic showing average service fees at retirement villages




 THIS TIME 7.30 is looking at …

-how difficult it it is to move out of retirement living

-how it is really not a purchase, but ‘a long term rental’

ONCE again the big end of town are into it up to their arm pits, the story covering a Lend Lease retirement property … run by the same people who run shopping centres with similar and familiar sharpness …

Indeed it seems the whole Build to Rent concept is yet another vehicle for a few well set-up players to make a motza from those less fortunate …

LOOKS like the developer lobby … the Property Council are already anticipating a 50 per cent increase for retirement villages …

IS this industry relying on the Public suffering from memory loss?

IT was only 2 years ago when ABC Four Corners released its Report “Bleed them Dry until they Die!’





Retirement village residents unhappy about complex contracts and fees






The aged care royal commission has uncovered some shocking stories about the treatment of older Australians.

But the housing that many older Australians depend on, retirement villages, falls outside its scope.

Key points:

  • There are more than 68,000 retirement units across Australia in villages and serviced apartments
  • About 62 per cent of those moving in are older women
  • Over the next 15 years the number of Australians aged over 65 will increase by 50 per cent


About 200,000 Australians live in these villages and rely on the support they provide.

But some are paying dearly to do so, signing up to complex contracts and worrying that the money they are spending now may leave them unable to afford aged care when they need it.

Judith Brand, 82, has lived at the Classic Residences Retirement Village in the Melbourne suburb of East Brighton since 2012.

After seven years, she says she is stuck in a retirement village she no longer wants to live in.

“I badly want to move out,” Ms Brand told 7.30.

Ms Brand chose a real estate agent working for the village managers, Lendlease, to run a sales campaign for her two-bedroom unit, which was initially on the market for $880,000.

But after 15 months on the market, and a seven-month period with no inspections at all, she is frustrated with Lendlease and says the stress of trying to sell her unit is having an impact on her health.

“I’m not sleeping well, because I toss and turn and think of anything more I can do to sell it,” she said.

Ms Brand said she recently had three small strokes. While her health has deteriorated, she has watched the sales agent for Lendlease sell dozens of other similar units.

“I am feeling more and more hopeless,” she said.

“I might as well be chained to my bed with a steel chain. I’m absolutely trapped.”

In a statement, Lendlease said it had sold 40 residences at the village in the past 12 months.

“Under contract, all property owners are entitled to seek the agency services of external parties and to set their own prices. Mrs Brand was aware of this, but chose to use Lendlease sales agents,” the statement said.

“Mrs Brand also set the price for her property.”

‘Silver tsunami in the Australian population’


*The Property Council’s Ben Myers said over the next 15 years the number of Australians aged over 65 would increase by 50 per cent, but they might not have access to the housing they will need.

“There’s a huge silver tsunami, if you want to put it that way, in the Australian population,” he told 7.30.

“We’re just not really thinking about housing supply, what older people are going to need in our community.”

The latest industry data from the Property Council shows there are more than 68,000 retirement units across Australia, both in villages and serviced apartments.


About 62 per cent of those moving in are older women. The weighted average age of those moving in to villages is 72.7 years.

Mr Myers said the current retirement housing stock would not come anywhere close to meeting future demand.

“The supply of purpose-built seniors housing in Australia is really slipping behind the growth of the population,” he said.

But there is a broader question about the fees and charges associated with retirement villages.

The monthly service fees on these properties are not cheap.

For a one-bedroom apartment, the average service fee is $500 a month, for a two-bedroom apartment it is $536 a month, and a three-bedroom apartment is $553 a month.

While the average two-bedroom unit sells for $438,000, residents are usually expected to renovate before they sell, which in some cases can cost upwards of $80,000.


On top of this and other charges, the vast majority of villages charge so-called deferred management fees when the unit is sold.

This can mean about a third of the sales price of a retirement unit is retained by the village managers.

Mr Myers said it was a fee structure that people sometimes found confusing, but he said the vast majority came to understand the model before they signed up to a retirement unit.

“The key thing is to direct people to get good advice so there is no uncertainty,” he said.

“The one financial model that has stood the test of time has been the deferred management fees.”

‘You don’t own it’


Macquarie University economist Tim Kyng started looking into retirement villages after examining the accommodation options available for his 85-year-old mother.

He said retirement village residents often wrongly believed they owned their retirement unit.

“The way the contracts are worded, and the way the sales tactics work, they try to make the customer believe that they’re buying the apartment and they own it,” he said.

“The fact is, you don’t own it. It’s really a long-term rental arrangement.

Mr Kyng decided retirement villages were not a good deal, and that the sales tactics were confusing.

“I found it was really difficult to get them to give us a copy of the contract, or to get them to give us the details of how the fee structure would work,” he said.

His experience led him to develop his own comparison website called the Retirement Village Calculator, so people could find out what the various fees and charges would mean for them.

“A lot of people are happy living in retirement villages. But the ones who are unhappy, it’s very difficult for them to exit the arrangement,” he said.

‘A few major things went wrong’



When Les Scobie and his wife paid just over $200,000 for their retirement unit in the Victorian town of Wangaratta, they were hoping for a quiet life.

They knew that if they decided to sell up and move on, the operators of the village would keep about a third of their money in exit fees.

“The part that we didn’t understand when we came in, was how little protection there was for you if something went wrong,” Mr Scobie said.

“And unfortunately, at this village, a few major things went wrong.”

The former bank manager discovered he and other residents had been wrongly charged a combined total of more than $300,000.

So, on behalf of hundreds of residents at the village, Mr Scobie took on the local Anglican diocese, which ran the village at the time, and won back most of the money.

Mr Scobie said retirement village residents were often vulnerable, especially when their health deteriorated and they needed to leave the village and go into aged care.

He said retirement village residents needed to make sure they were not taken advantage of.

“The industry really needs to be tipped upside down,” he said.




SOURCE:  https://www.abc.net.au/news/2019-06-20/retirement-village-residents-unhappy-about-complex-contracts-fee/11224072?section=business








Federal Election 2019: Aged pensioners on fixed incomes open up about tough financial choices

MAY 3 2019



Hilary Croger, 84, still lives in same house in which she came to live as a newlywed with her late husband Russel in 1955.

Key points:

  • Aged pensioners who are asset rich but cash poor are seeking out alternative options for income streams
  • Downsizing is the option chosen by some, while reverse mortgages provide an option for those that want to avoid downsizing
  • While both options provide some benefits, both reverse mortgages and downsizing in a declining property market can mean uncertainty too


The hilltop home, separated from panoramic views of Lake Macquarie by a strip of nature reserve, holds 62 years of memories.

“We built our own home, with our own hands, over a period of about 10 years,” Mrs Croger said.

When her husband died 20 years ago she survived on his superannuation, which has now been exhausted.

Mrs Croger does not want to downsize and has slowly come to accept that she is asset rich, but income poor.

“It’s just because it’s sitting on the lake,” she said.

“I’d like to hang onto it as long as I can, but I do understand that the end is nigh.”

Downsizing a tricky option for some seniors

*Chief Executive of COTA (Council of the Ageing) Australia Ian Yates does not like the word ‘downsizing’.


“We like to call it ‘right-sizing’,” he said.*

“It’s about finding the right number of bedrooms, size of garden, location, degree of upkeep that they need.”

Mr Yates said that reverse mortgages are a way to enable people to safely access some of the equity in their home.

“Sometimes they can do that by downsizing, but there are very good reasons why people don’t want to do that,” he said.

“Financially, making that decision can be tricky, and there are disincentives in the pension system to doing it.”

Reverse mortgages are touted as a way to unlock equity in the family home by borrowing against the asset without needing to make repayments until the house is sold or the owner moves out or dies.

But a number of banks, including Australia’s biggest lender the Commonwealth Bank, are now getting out of the reverse mortgage market, in the face of criticism from the peak financial regulator, ASIC.

Mrs Croger conceded her family home is expensive to maintain and, after carefully considering the options, with the help of her son, she set up a reverse mortgage.

However, she “hasn’t touched it”.

“I’m of that generation where I just can’t,” she said.

“I will do anything not to touch it, even with this blinking dishwasher.”

Meanwhile, crippling bills keep rolling in.

Keep a lid on living expenses


Marlene Hutchinson, 83, from the Newcastle suburb of Tarro, decided to downsize when her husband Dave died two years ago.

“The only money we have to pay is for strata cost, and that covers insurances and the outside of the building,” Mrs Hutchinson said.

“I just had a leak in my roof, and the insurance company arranged for a contractor to come and fix it all up.”

Mrs Hutchinson has kept meticulous records of her household spending in exercise books since 1964.

She uses a system where she maintains a modest nest-egg which acts as a float.

“My bank passbook has my income in it which is my pension, and I only use that very frugally.

“I try to keep a balance … and some months it will go down.

“In April I had [bills] of about $1,800, which would have wiped out the pension completely.

“But having that bit of a balance in my bank account I can work against that.”


The cheapest of all is a quarterly bill for electricity usage, coming in at just $47, thanks to rebates from the solar panels.

Mrs Hutchinson is also very canny about other ways to save pennies.

“I’m very particular about when I use the electricity,” she said.

“While I’m watching the TV of a night, I’ll have the washing machine going, so it’s ready to hang out in the morning.

Cheaper rate, you know? You’ve got to think of these things.”

Uncertainty, anxiety around downsizing


The story of Hilary and Marlene, both widows, born only a year apart, demonstrates the diverse population of older Australians.

“They are not all the same,” Mr Yates said.

“They’re the most diverse population segment we have, with all sorts of different needs.


“The system has to be flexible to meet those, but simple so people know how to plan.”

For Mrs Croger a housing bubble has seen her property valuation plummet from a valuation in excess of a $1 million.

The uncertainty has left her feeling anxious, with big decisions to make.

“I’d rather sell it to my family,” she said.

“Either one of the boys would be interested.”

One option if she sold, Mrs Croger said, would be to move into a granny flat on her daughter’s rural property.

But she worried about becoming isolated from her community.

“I coordinate a pastoral care team, an umbrella of our local church [where] every person in our congregation gets one phone call a week at least, or a face-to-face visit,” Mrs Croger said.

“We visit into the homes of the really house-bound people, and the ones who are the happiest are the ones who are in their own home.”

For Mrs Hutchinson, community and socialising is also important.

Her social life revolves around the Beresfield Seniors Group of which she is the secretary.

“Most of my social outings I’ll have with either the seniors as a group,” she said.

“In a week we’re going on a dolphin cruise at Nelson Bay, so we pay our money off over a period of meetings.

“[On the day] I just turn up and get on the coach and off we go, you know? You don’t miss that sort of money.”

Mr Yates said ‘the whole issue of retirement income” is a ‘significant’ issue.

“Not just the pension, but the pension and how the superannuation system works with that, and how that all works with tax, and the fact that both sides keep changing the system,” he said.

“There are experts saying that our retirement system has become so complex that they don’t know how anybody can work out what the right choices are.

“We need to find better ways of giving people advice, without going into full financial advice, and that’s something missing from the system.”


SOURCE:  https://www.abc.net.au/news/2019-05-03/to-downsize-or-not-aged-pensioners-on-fixed-incomes-open-up/11073516?sf212063183=1&fbclid=IwAR3ubbB7ONVDzlOCUkVsiyBl-j0KHszIG_HoJh0Kq9lQarN_NdqNbhmgS8I





A PROPERTY INVESTMENT MAG SURVEY found Most Australians are extremely sympathetic to the dilemma of First Home Buyers!


Chinese buyers have left Australia in hordes.


A PROPERTY INVESTMENT MAG SURVEY found Most Australians are extremely sympathetic to the dilemma of First Home Buyers!

WHAT this Survey reveals to CAAN is that many Sellers are still unaware how this Housing Affordability Crisis was contrived … for a Whole Cohort of Australians to have been locked out … yet meanwhile where we live is being spoilt or even destroyed!

PERHAPS this is because there is much SPIN being circulated! Especially by those with a vested interest!


The role of the Australian LNP Government, the Big End of Town particularly the Developer/Property Sector and their extensive overseas clientele!

With government policies written for those with vested interests!

-developers able to sell 100% of “new homes” to foreign buyers (FIRB ruling changes 2009; May 2017 Budget Reg)

-no Anti-Money Laundering Legislation for the Real Estate Sector

.early October 2018 Real Estate Agents, Lawyers and Accountants were made exempt from any liability in money laundering

-through Visa manipulation foreign buyers can not only buy a property but gain a permanent Residency Visa

Read this for the how and why the Housing Affordability Crisis came about, and refer to CAAN Website categories to find out more:




“Australians are also extremely sympathetic to the dilemma of first home buyers as 71% of the respondents believed the government is not doing enough to help this group of buyers.

Over half of those who were surveyed even wanted to know the buyer of their property, with two out of three willing to offer a discount to first buyers.  Nearly one in four people from this pool were comfortable to cut their property’s price by 5 to 10%.

Mccan associated the thoughtfulness towards first home buyers with the capital gains these sellers had achieved in recent years.

“The same group seems extremely aware of the effect the property boom has had on first home buyers and wants action to keep the Australian dream alive,” he said.

In terms of other issues, 78% of the people felt the government should do more to aid retirees downsize, while 84% believed that the government isn’t doing enough to regulate foreign investment into the country’s property market.”


There has been a concerted push by government and the Greater Sydney Commission to encourage seniors to “downsize” … what lay behind this?

Could it be to free up more property for developers to build as many as 10 terraces on a suburban lot, townhouses and duplex?

And to sell to overseas buyers? ….


DOWNSIZERS risk losing some or all of their Age Pension!

-though the Family Home is exempt from the pension assets test any home equity unlocked by downsizing is not!

-downsizers have to stump up the stamp duty on any new home they buy; at May 2017 equates to $32,000 for the median-priced home in Sydney

-earnings from the cash released are taxed, whereas capital gains on the home are not


OUTSOURCING home maintenance costs may be cheaper than apartment strata levies!


VIEW to find out more:






SOURCE:  https://www.yourinvestmentpropertymag.com.au/news/property-owners-becoming-eager-to-sell-256631.aspx








FRENCHS FOREST a bushland suburb bulldozed to become a Private Hospital Precinct!

From the enjoyment of their quality homes on 700 square metre blocks surrounded by bushland residents have been shafted having lived through years of construction, roadworks and uncertainty over development and rezoning!

Locals describe this as a “Nightmare”, an upheaval;  no longer a peaceful family area!

MANLY AND MONA VALE PUBLIC HOSPITALS shut down for a private operation by



IT appears both Frenchs Forest and the Northern Beaches have been SHAFTED!

Forest High is to be relocated for a new Town Centre!  The one square kilometre school site will be replaced by 3000 apartments in buildings up to nine storeys high; no higher than 12 storeys. 

-a mere 10% set down for “affordable housing”

-offices, medical services, shops, bars, an oval, green space and possibly a university campus

The school site is expected to make $250 – 300 M for the state government  … a replacement school to cost $100M.

Typical of the “boys club nsw guvmnt” Hazzard suggests the hospital has put Frenchs Forest on the map …


The apartments are expected to bring younger home-owners with a push for older residents to downsize from their homes to make way for developers overseas sell-off.

Within 10 years rezonings to allow townhouses and villas to add 5300 dwellings.

With proposal for a rapid transit bus link from Chatswood to Dee Why via Frenchs Forest. Residents fears of the Forest turning into a Mini Chatswood, we believe, are well founded.  If not why is a bus service proposed to connect to Chatswood?  Why wouldn’t the workers be local to Frenchs Forest?


‘They’re trying hard to destroy it’: The growing pains of a Sydney suburb

By Garry Maddox

The Northern Beaches Hospital is a development decades in the making.
The Northern Beaches Hospital is a development decades in the making.CREDIT:BROOK MITCHELL


When Julie Sutton moved to Frenchs Forest more than 50 years ago, her friends were dismayed. Developers had cut down so many trees that the grandly named Panorama Crescent, with spectacular views to the Sydney Harbour Bridge, looked like a quarry.

“They felt so sorry for me,” she says. “We couldn’t understand why it was called Frenchs Forest because, while there was certainly some bushland areas, the streets were bare.”

"It was not a place you'd want to live": Julie Sutton.
“It was not a place you’d want to live”: Julie Sutton. CREDIT:NICK MOIR

Sutton, a school teacher who went on to be twice mayor of Warringah council, says transport was poor, there was no sewer, hardly any shops and only a few stark footpaths.

“It was not a place you’d want to live,” she says. “The only reason we bought the house was we were quite hard up and it was one of the cheapest suburbs we could find.”

Frenchs Forest changes puts residents at a crossroads

Play Video


Frenchs Forest changes puts residents at a crossroads

Playing in 2 …Don’t Play

*With the suburb expected to transform as much as any established Sydney suburb in the next decade, some residents will be living in a far different suburb than they moved into decades ago.

As the trees grew back and more residents settled in, Frenchs Forest became a much more popular suburb for families. It had solid houses on handsome 700 square metre blocks surrounded by bushland.


The community was friendly, the schools were good and there were beaches and horse-riding nearby. There was even a drive-in theatre.

It was a slice of middle Australia where people who grew up there often wanted to stay and others returned when they had children; a suburb that barely seemed to change over the decades, even as the Skyline drive-in became the Skyline business park.

The $600 million Northern Beaches Hospital is finally opening this month, next to The Forest High School.
The $600 million Northern Beaches Hospital is finally opening this month, next to The Forest High School.CREDIT:BROOK MITCHELL


On her first day teaching at The Forest High School – where famous former students include Tim Farriss, Kirk Pengilly and Garry Gary Beers from INXS, David Koch and Bill Leak – another teacher asked Sutton to round up kids who were smoking on “the hospital land”.

“I said, ‘What does that mean?’ ” she says. “She said, ‘They’re building a hospital next to the school.’ That was in 1965.”

Fifty-three years on, the $600 million Northern Beaches Hospital is finally opening this month and Frenchs Forest is being transformed. With 488 beds, it promises a new era of healthcare as the replacement for the ageing Manly and Mona Vale hospitals.

But for residents who have lived through years of construction, roadworks and uncertainty over development and rezonings, the most common phrase to describe what has been taking place is “nightmare”.


“It’s not a family area any more,” one long-time resident, psychologist Ivana Grkovic, says in her lounge room.

“It’s not a peaceful area any more. It’s just an area where people should come for the hospital. I have no reason to live here any more.”

She plans to leave.

"I have no reason to live here any more": Ivana Grkovic.
“I have no reason to live here any more”: Ivana Grkovic. CREDIT:NICK MOIR


“It’s always been a beautiful area,” Laine Rowley says, baby on hip, at her front door. “The street was initially a quiet cul-de-sac – there were a lot of families. But that’s obviously changed with the roadworks. It’s now a nightmare.”

While hoping the chaos settles down when the hospital opens, she is thinking of moving to a quieter part of the suburb near her three children’s schools.

Bob Rose, a retired builder who has lived in the same house for 56 years, would have been happy to take “the big bickies” from an expected rezoning that has not happened.

“Where we are is a nice little spot but they’re trying hard to destroy it,” he says.


Few established suburbs are expected to change more in the next decade.

An announcement is due soon about the relocation of Forest High for the construction of a new town centre.

Within five years, it is expected an area of one square kilometre will have 3000 apartments in buildings up to nine storeys high.

"It's now a nightmare": Laine Rowley
“It’s now a nightmare”: Laine RowleyCREDIT:NICK MOIR


But first comes the hospital opening.

* With staff training and test overnight stays already taking place, healthcare giant Healthscope’s latest project will take its first 100 patients from Manly Hospital on October 30 and next 100 from Mona Vale Hospital the next day. *

“It’s a full military operation,” medical director Louise Messara says. “It’s involving so many different groups of people from NSW Traffic to ambulance, patient transport, volunteers, doctors and nurses … we have a schedule where every four minutes some action is taking place.”

*Dr Messara expects there will be about 2000 patients, staff and visitors at the hospital on a typical day, including 70,000 visits to the emergency department a year.  It will be similar in size to Royal North Shore Hospital.


State Health Minister Brad Hazzard, whose electorate of Wakehurst includes Frenchs Forest, says the hospital has put the suburb on the map.

“You get a new incredible facility that one of the doctors referred to as Disneyland for doctors,” he says. “I reckon it’s Disneyland for everybody.”


$600 million
Cost of the hospital
Number of staff, patients and visitors expected daily
Number of beds (60% public, 40% private)
The number of patients expected to go through the 50-space emergency department every year
The number of operating theatres
The number of car spaces
There will be one helipad
October 30
The date the hospital will open its doors with the first 100 patients from Manly Hospital


Mr Hazzard says residents have gone from not believing there would ever be a hospital to asking what the suburb will be like when it’s open, with the Northern Beaches Council having to focus on creating what’s being called a “strategic centre” for the northern suburbs.

“The council has been working very hard to try and strike the right balance but maybe the right balance is completely the wrong thing for somebody else,” he says.

Living nearby, Mr Hazzard has been frustrated by the slowness of the road works to service the hospital.

“The roads have been a shocker,” he says. “Frenchs Forest Road East and Frenchs Forest Road West and the ancillary works are all now finished.


“So a big thank you to [Roads and Maritime Services and contractor Ferrovial York] for that but it would have been good if they’d actually had a bit more full steam ahead on Warringah Road [which] remains a challenge for us. Some mornings when I head out to the office, it can take me 25 minutes to go two kilometres.”

The next stage for Frenchs Forest includes the town centre.

The mayor of the Northern Beaches Council, Michael Regan, expects work to begin within two years, depending on the timing of the sale of the Forest High site and construction of a multi-storey new school on a large car park next to Warringah Aquatic Centre.

“Construction of the new school signals the beginning of the town centre,” he says. “Once the school is built, they can move onto The Forest High School site and start building.”

While the Education Department is coy about details, locals expect the site to sell for $250 million to $300 million, with the new school costing something like $100 million to build.

*Cr Regan believes that, within five years, a one-square kilometre area that includes the town centre will have 3000 apartments – 10 per cent set down for affordable housing – as well as offices, medical services, shops, bars, an oval, green space and possibly a university campus. *

An artist's impression of the proposed Town Centre at Frenchs Forest.
An artist’s impression of the proposed Town Centre at Frenchs Forest.CREDIT:NORTHERN BEACHES COUNCIL


“There’ll be no building higher than the current hospital, which is 40 metres,” he says.

*The arrival of apartments is expected to bring younger home-owners – many of them working in the area – and allow older residents to downsize from their houses.

Planners believe that, within 10 years, rezonings to allow such medium-density developments as townhouses and villas will add 5300 new homes and 2300 new jobs to current levels.

*But Cr Regan says these extra numbers can only come with a rapid transit bus link from Chatswood to Dee Why via Frenchs Forest and construction of the politically contentious Northern Beaches Tunnel, which would link Balgowlah to the Warringah Freeway.

While a so-called precinct plan that was scheduled to go on public exhibition early this year is yet to emerge, Cr Regan believes the state government will be ready to act quickly on rezonings when it is eventually released.

“They need to get cracking because of all the poor residents who have suffered through those roadworks,” he says. “I’m 100 per cent disappointed it’s taken this long.”

The council sees all these extra jobs coming from the hospital, medical services drawn to the area, shops, hotels and other new businesses. There are already plans for one new hotel on the site of the Parkway Hotel.

While some residents fear the plans will turn the suburb into “a mini Chatswood”, Cr Regan disputes that.

“Chatswood is significantly bigger, I would have thought, and significantly higher,” he says. “If we get this right, it’ll have more of a village feel. [Next to] a hospital that’s 24 hours, it’s a town centre which will have a day-time economy and a night-time economy.”

"100 per cent disappointed it's taken this long": Northern Beaches Council mayor Michael Regan.
“100 per cent disappointed it’s taken this long”: Northern Beaches Council mayor Michael Regan.


Cr Regan says the council has been having “positive discussions” with the state government about the proposed rapid transit bus service that he believes would cost about $3 million for buses every 10 minutes, seven days a week, based on fare revenue of $3.5 million to $4 million.

“A lot of the workers will get off the train at Chatswood,” he says. “They’re going to want a pretty quick bus with bugger all stops between there and the hospital.”

Dr Messara expects more medical services and other businesses to move into Frenchs Forest.

“Whenever you have a facility of this size, other services are drawn to the surrounding area,” she says.

Already staff say they need more childcare and Dr Messara believes the suburb will need more accommodation for people requiring recurring medical treatment, hospital visitors and staff on rotating shifts.

Health Minister Brad Hazzard, who lives locally, was frustrated by the slowness of the road works to service the hospital.
Health Minister Brad Hazzard, who lives locally, was frustrated by the slowness of the road works to service the hospital.CREDIT:BROOK MITCHELL

Million-dollar windfall vanishes

It could have been a million-dollar windfall. Two years ago, a group of 62 home owners in Frenchs Forest banded together to sell their houses collectively for almost $200 million.

They were planning to cash in on an expected rezoning by selling their houses near the new hospital as one parcel for medium-density homes or medical centre development.

The thinking was that rezoning could double or even triple the value of their homes.

The chairman of the consortium, David Tomlinson, estimated they could get more than $3 million for each house at a time when the average price, on Domain data, was $1.35 million.


Year Median price Number sold
2009 $765,000 180
2010 $850,000 227
2011 $854,000 172
2012 $850,000 185
2013 $890,000 203
2014 $1,020,000 236
2015 $1,270,000 206
2016 $1,420,000 144
2017 $1,645,000 140
2018* $1,540,000 133

* To September 26 in 2018 Domain data shows a marked slowdown in house sales during hospital construction and road works amid uncertainty over rezoning and future development. 



Agent Matthew Ramsay called it the largest consortium of home owners he had seen in Sydney.

But the windfall never happened.

"We felt like we'd been shafted": David Tomlison.
“We felt like we’d been shafted”: David Tomlison.CREDIT:NICK MOIR


The consortium fell apart when they discovered their area would not be rezoned in the near future – with planning focused on a new town centre on the site of The Forest High School instead – leaving many home owners disappointed, frustrated and angry.

“We were shocked,” Mr Tomlinson says now. “We felt like we’d been shafted to be honest and that the decision was made to suit the government, not to suit the residents of the area.

“Obviously the state government is going to make a lot of money out of that high school site being redeveloped.”

With the consortium wound up, Mr Tomlinson says most home owners have decided to stay – at least for now.

“We think that after the roads are built and presuming the town centre is built and presuming the Northern Beaches Tunnel is built, this area will still be a prime residential development area.”

Garry Maddox is a Senior Writer for The Sydney Morning Herald.


SOURCE:   https://www.smh.com.au/politics/nsw/they-re-trying-hard-to-destroy-it-the-growing-pains-of-a-sydney-suburb-20180911-p502zp.html







THIS may appear to be a good alternative … it is all very well but …

 IS this falling into the hands of the developers, real estate agents and even some academics who are out there blaming “older Australians” for aiding and abetting our housing crisis?

VIEW:  Are Older Australians to Blame for Booming House Prices? When will the Media be able to tell the truth?




IS this about pushing the idea of DOWNSIZING to suit the motives of others, promoting the redevelopment of the family home for medium and high-density housing?
IS this part of the blame game to shift the focus onto others allowing the developers more scope to solve the problem for they must at all costs avoid a ‘whole of community solution’ to housing availability and affordability

AS for the TINY HOUSE idea … it is cute but imagine an older person trying to access a loft bed area?

BESIDES,  it seems it was designed to accommodate only ONE (1) PERSON, again the assumption is older Australians are ‘on their own’ maybe they are, in other ways, with others hell-bent on marginalising them, and getting their hands on their assets!

Octogenarian’s tailor-made tiny house offers a retirement home alternative


While Australia reels from stories of malpractice in the aged care sector, perched petitely in regional Victoria is a house that could serve as an alternative model to a retirement home.

It’s Merle’s house — her tiny house, to be precise.

“I’m 82 years old and I can manage this easily, and I don’t have to depend on carers,” she says.

“I am completely independent.”

A tour inside Merle’s home

Merle moved into the tiny house earlier this year, and she hasn’t looked back.

Roughly 7 by 2.5 metres in dimension, her light-filled residence sits on her family’s country property.

But Merle’s home is completely self-contained, and it’s tailor-made to suit her specific physical requirements.

It has an entrance ramp leading to the home’s veranda, assistive bathroom rails in the shower alcove and touch-open cupboard doors.

There is underfloor heating and a hydraulic bed that she can raise with the press of a button during the day — revealing a couch underneath.

All for a price tag of around $150,000.


“I love the living, I love the warmth. I’m warmer here than I ever was in Queensland,” Merle says.

“There’s nothing in this home that isn’t great, and I love the half-hour of housework instead of four bedrooms.”

The house that Chris built

Chris Wenban — who isn’t of retirement age — also lives in a tiny house, next door to Merle.

She runs a tiny house construction company and, along with her business partner, built both homes.


She says she became “quite obsessed” with tiny homes for primarily environmental reasons, which eventually prompted her to move into one herself.

“I like efficiency. I like the idea of not having as big an impact on the environment and not having to spend as much money on housing,” she says.

She says there’s a common misconception that a tiny house is a just a fancy caravan.

But there are major points of difference in a tiny house.


“The look and the feel and the sense of space is completely different,” Ms Wenban says.

“My lowest ceiling height downstairs, because I have a loft bedroom, is two metres high in the kitchen and the bathroom.”

She sleeps in a loft that’s around a metre high. Her three-metre kitchen is full-size, as is her gas oven, and a “little, secret table” can be pulled out to make an office space.

She has a composting toilet, with solids that are emptied every three months into a nearby compost bin. Nasty pathogens are then killed off over the course of a year, before the resulting fertiliser is spread onto the garden.

“Most people advise putting it on fruit trees and not on your vegetable garden, because you don’t want to have that conversation with your dinner guests,” Ms Wenban says.

Fleeing a natural disaster — with your home

Both women’s houses are in Kinglake West, facing a ridge where, nine years after the Black Saturday bushfires, lifeless trunks are a grim reminder of how many people lost their lives in the small community.

In this context, a tiny home on wheels offers benefits that extend beyond sustainability.


“We permanently have a vehicle on site that will be able to pull the tiny houses out,” Ms Wenban says.

“Because they are on wheels, you can do that.

“So, our fire plan is, essentially, if we were in a situation where we thought that there was a fire that had started nearby, we could very easily just hook them up and pull them out.”

She says tiny houses are advantageous not only in the event of bushfires, but flooding too.

Surge in older buyers of tiny homes

Ms Wenban has taken her tiny constructions to home shows and farming expos, and says she’s surprised by the demographic of potential buyers she meets there.

“I would say about 20 or 30 per cent of those people are older people, either looking for themselves for the future [or for their] elderly parents,” she says.

“Everyone wants to look after their parents but the reality of having another family member living in your own house can be quite stressful.”

Tiny houses allow older people to live independently from a main household, but close to people who can keep an eye out for them.

“For a lot of people who get older it’s not [that] they need a high degree of care or that they can’t live independently anymore,” Ms Wenban says.


Rather, “two or three small things start adding up”, she says, like needing a stair-free home, or someone to monitor medication or a proper diet.

She believes these things alone “aren’t necessarily a great reason to go into an old people’s home”.

Ms Wenban says Merle is an example of someone successfully opting for a tailored tiny home over accommodation in an institution.

“Merle’s very independent,” Ms Wenban says.

“She has a separate physical space and it’s hers and people have to knock on the door when they come in.

“She continues her lifestyle as she normally would, getting up when she wants, eating when she wants, eating what she wants, and has very much that sense of independence.

“It’s very much her home.”

But if Merle needs a hand with a meal or to be run down to the shops, help is easily accessible.

Plus, says Ms Wenban, “it’s often good for your mental health when you’re around family, people who are going to check on you regularly”.

She believes we’ll see more living arrangements like Merle’s in the future.

“As councils realise that this is an alternative to people going in to old people’s homes, I think it will become more recognised, permitted and accepted,” she says.

“[A tiny house] can extend people’s ability to live independently for an extra number of years.”

SOURCE:  https://www.google.com.au/amp/amp.abc.net.au/article/10264960






A fridge, cupboard and bed inside a micro apartment in Sydney


THIS reads like a report prepared for the developer lobby …

Targeting … Gen Y, the next Gen and Baby Boomers for the Townhouse

The lobby has rewritten NSW Planning Laws to rezone where we live for higher density along with complying development.


BECAUSE the next round will LIKELY be that in our five part series

“A Pondsy Scheme”.

EMAIL YOUR OBJECTIONS TO YOUR LOCAL MPs; demand rectification of Australian Standards in Home Building!

Shoe-box apartments won’t meet family-friendly housing demand as millennials come of age

By business reporter Stephanie Chalmers

PHOTO: As Generation Y start families, medium-density dwellings are tipped to be in demand, rather than small high-rise apartments. (ABC News: Lawrence Champness)


RELATED STORY: Australian housing prices are falling at their fastest rate in six years

RELATED STORY: Building approvals rebound as property sector shows resilience

RELATED STORY: Construction set for its biggest fall since GFC

The tiny inner-city apartments built during the boom of the past decade are unlikely to meet the needs of Generation Y as they grow older.

Changing demographics over the next 10 years are tipped to drive demand for smaller dwellings — but not that small, according to BIS Oxford Economics.

The economic forecaster has crunched the population numbers and concluded that rapid growth in the 20-to-34-year-old age bracket over the past 15 years will see Generation Y, or millennials, shape the residential property market over the next decade.

As Generation Y move into their late 30s and 40s and are more likely to be living in family households with children, they will need to balance convenience and affordability with home ownership and the separate dwellings typically sought after in that life stage.

“For people who would like to remain in the inner or middle suburbs, that’s going to be financially out of reach, so they’ll be looking for something that offers more amenity but will be at a more affordable price,” Angie Zigomanis from BIS Oxford Economics said.

“Probably the best type of dwelling that meets that compromise is a townhouse.”

Bigger apartments, outdoor spaces ‘missing from the market’

Investor demand has seen apartment construction boom — particularly in Sydney, Melbourne and Brisbane — but Mr Zigomanis said the studio, one and small two-bedroom apartments that are attractive to Generation Y as they rent in their 20s are unlikely to hold the same appeal as they age.

A line graph showing share of households living in townhouses and apartments rising between 1991 and 2016

PHOTO: BIS Oxford expects the trend towards townhouse and apartment living to continue (ABS, BIS Oxford Economics)

He is projecting increased demand for medium-density housing including townhouses, larger units and villas with at least three bedrooms.

Outdoor spaces, such as courtyards and rooftops, and more space inside, will also be in demand — something he said has been missing from the apartment market over the past decade.

Unit boom heading for a bust?

The apartment blocks soaring above capital cities look like heading into oversupply, and that means prices will fall.

BIS Oxford recently sounded an alarm over the residential building market, tipping the biggest fall since the GFC, led by a slump in high-density dwelling construction.

The large-scale, high-rise developments that sell apartments off the plan to investors do not hold the same appeal to owner-occupiers.

Mr Zigomanis expects those coming up behind Generation Y to continue to demand high-density apartments for rentals, but says growth will not be as strong as it has been.

“There’s not going to be the need to build as many new apartments as we have been,” he said, noting the next generation is a similar size to Generation Y.

Baby boomers tipped to add to townhouse demand

The growing over-65s segment of the population is not tipped to favour smaller apartments either.

BIS notes downsizing has been growing at a “glacial” pace and, even if it picks up, demand is not expected to be fulfilled by small, high-rise dwellings.

“Previous research that we’ve undertaken suggests that many baby boomers would still like to stay in the area that they’re living in, where they’ve already made friends and social connections,” Mr Zigomanis said.

A column graph showing changing age demographics from 2008 to 2028

PHOTO: The number of households in the 35-49 age bracket will increase over the next decade as Gen Y ages. (ABS, BIS Oxford Economics)

“Their preference will be towards two and three-bedroom townhouse-type dwellings as well, similar to that being demanded by Gen Y.

“Between them they will create, from our point of view, more demand in those inner and middle suburbs for that medium-density-type product over the next decade.”

Demand for medium-density housing is not as easy for developers to meet — apartment sites go up, but townhouse and villa-style developments require going out.

Disused industrial land or replacing detached houses on larger lots with multiple units could be a solution, according to Mr Zigomanis.

 SOURCE:  http://www.abc.net.au/news/2018-08-02/shoe-box-apartments-wone28099t-meet-demand-for-family-friend/10061710







Downsizing decisions: Which type of home is best for low-maintenance living?

THE PUSH continues for older people to downsize and it is total B.S.

WHAT “the push” is about is opening up another market for developers to redevelop housing estates lived in by older residents …  to flog off 100 per cent overseas.

BEFORE “Selling Out” to downsize ensure that there is a market of suitable dwellings available for sale on the local Australian market!

YOU don’t want to be forced into buying an unsuitable property!  Or just anything!

THE MEDIUM DENSITY HOUSING CODE is being promoted for its suitability for Seniors however the developer can maximise profits with rows of terraces, townhouses and duplex … of 2 or 3 storeys …

THE “agent speak” here is of the competition for downsizing between cashed-up Seniors and First Home Buyers … however, in reality the buyer competition is from overseas.

REFER to these articles in “Downsizing” Category in CAAN WEBSITE:




Downsizing decisions: Which type of home is best for low-maintenance living?