The advent of new and proposed retirement communities and land lease ventures looks to be on the money if new research is right.
Consumer research and advice business Digital Finance Analytics said results from its rolling survey of 52,000 households indicate more than 1.6 million households intend to downsize over the next five years – a 30 per cent jump from 12 months ago.
The Digital Finance Analytics research finds that Melbourne’s South East, West and Outer East were the top three regions with potential downsizers looking at retirement options.
Perth’s North-West, the Newcastle and Lake Macquarie region in NSW and then Melbourne’s North East and North West followed.
Digital Finance Analytics principal Martin North said the increased interest in downsizing was being driven by population demographics and economic factors.
He said current low returns from investment property and term deposits meant homeowners were seeking to access home equity accumulated over recent years. Mr North added that the current rising demand for property, and the resultant jump in prices, made the idea of selling more attractive.
Finally, the ageing population means there are more ‘empty nesters’ in suburbs who want a new lifestyle that also caters for their health now the children have left home – like a village or land lease community.
You can search for more downsizing options at villages.com.au.
