We’ve invited Greg Oddy, the director of Sales and Marketing of downsizing.com.au to discuss the growing downsizer market in our first episode of the Downsizers Show.
Here are the highlights of the discussion:
The downsizer market is huge—and growing
There are around 8 million people who want to own downsized properties, so developers not tapping into this huge market are missing out. Around 7 to 7.5 million Australians in their golden years search for properties online alone.
Excluding properties like retirement villages and over-55 lots that were made especially for retirees, there are approximately only 30 thousand Australian listings that fit the needs and wants of the downsizer as of June 2017, so great things are in store for the market in terms of property development for the years ahead.
What makes a “typical downsizer”?
People have different reasons as to why they want to downsize. They may want to move because it is getting harder to move around in a house with stairs, maintaining a large house has become an unnecessary burden on their finances, or perhaps they simply want to move to a scenic location or nearer to family members.
It is difficult to say what one downsizer wants and needs because they all have different reasons for moving.
However, most baby boomers want luxury appliances, well-designed storage spaces for their stuff, and good common spaces for when their children and grandkids visit for their living spaces. For their community, baby boomers consider scenic surroundings, good security, and nearby health facilities, shops, and transportation important.
Factors like reduced mobility and wheelchair use in the future must also be taken into consideration. So, wider doors, lower electric outlets and switches, and fewer stairs are important inclusions in this market.
Prime spots for people over 50
Eastlakes Live is Crown Group’s newest and largest project to date. It was developed in collaboration with award-winning architects and features manicured parks, well-designed residences, inspired playgrounds, and curated retailers.
Its north side precinct offers 134 boutique residences while the south side precinct has over 400 modern apartments. Eastlakes Live was created with the ease of the downsizer in mind so it is located in a prime location. Sydney attractions like Sydney CBD, UNSW, UTS, Sydney University, and Congee beach are only a few kilometers away, the nearest bus station and supermarket can be walked, and it is surrounded by two golf courses.
Aveo Newstead was designed for people who want to transition to a retirement community but don’t want to compromise the luxury lifestyle they’ve enjoyed over the years. Located in the Newstead Riverpark precinct, residents can explore the sprawling parklands, river walkways, and bicycle paths when they walk out the door.
Nearby attractions include the Royal Brisbane and Women’s Hospital, Brisbane CBD, Roma Street, Southbank & QPAC, New Farm Park, Portside Wharf, Suncorp Stadium, and Brisbane Airport.
> Episode 1: Do you know what downsizers are looking for?