NewsBite

Property downsizing

February

Lendlease flagged the $118 million EBITDA earnings boost from settlements at the Residences Two tower at its One Sydney Harbour development.

Lendlease counts on Baby Boomer demand for luxury apartments

CEO Tony Lombardo says the builder, developer and investor is looking firmly at downsizers, because interest rates don’t bother them.

The two-bedroom, apartment at 203/22 Birdwood Avenue in northern Sydney’s Lane Cove sold by private treaty for $1.4 million.

The buyers who saved money with a 5-day purchase

A downsizing couple was desperate to secure a new home and get simultaneous settlement. Then they found this apartment.

January

Artist’s render of GreenFort Capital’s planned 422-home land lease community at Gowrie Junction in Toowoomba. 

GreenFort Capital buys two Queensland land lease sites

The fund manager wants to balance its housing offering for downsizing over-50s with other sectors such as retirement and build-to-rent.

December 2024

The two bedroom, one bathroom, one car park unit in a building of eight at 2/38 Boundary Street in northern NSW’s Tweed Heads sold by private treaty for $850,000.

‘Shoebox’ apartment sells for $850,000 in less than a day

With supply crunched, this 41-square-metre unit sold at a rate similar to those on nearby Millionaires’ Row.

So, you want to retire to Tuscany?

The idea of moving to Italy is alluring for retirees – la dolce vita, the food, the wine, the beauty, the prices. Just check these practicalities first.

Advertisement

October 2024

Simon and Sandy have just sold their Leabrook home for a second time, having moved out of it and then buying it back in 2022.

Couple makes $2m selling the same home twice in a decade

It seemed like a good idea to go back to their old family property, but this empty-nester couple discovered it wasn’t what they had hoped it would be.

High-rise housing in Sydney’s Rhodes.

Sydney doesn’t have enough three-bedroom apartments for Boomers

Many empty-nesters are staying put in their large houses or competing with young families and professionals for modern three-bedders with lifts.

A downsizer super contribution can be made regardless of your total super balance.

Four tips for upsizing super with downsizer contributions

If you’re 55 or over, you may be able to make a downsizer superannuation contribution to boost your retirement savings by up to $300,000.

September 2024

The six-unit block of apartments with scope for a 10-storey building on the same site at 1199 Gold Coast Highway, Palm Beach, sold for $10 million.

The $1.5m sale that shows Gold Coast buildings and people are ageing

Housing stock is being recycled on a key part of Australia’s coastline. But sales that make sense on paper aren’t always easy to achieve.

Assembly Funds Management (AFM) Louis O’Loughlin, Head of Investments Tim Meurer, CIO and Tom McDonald, Founder and Director at Elka Capital.

Assembly goes into land lease with $350m fund

The fund manager tapping funds from high net worth investors and family offices is aiming for a 10-plus community portfolio with up to 2000 homes.

August 2024

John Carfi.

Ingenia reveals five-year plan for settlements growth

The developer of affordable accommodation for downsizing Baby Boomers wants to focus its own capital on the core land lease business.

The two-bedroom, one-bathroom apartment with car park at 12/20-24 The Parade in inner-western Sydney’s Russell Lea sold at auction for $1,063,000.

The $1m apartment downsizers wouldn’t touch

It had stairs – lots of stairs – faced south and needed a ton of work. But first home buyers fought hard for it.

Lendi’s data showed that it took a big four bank about 20 days to discharge a mortgage.

Investor borrowing picks up to a two-year high

Vacancy rates have risen and rent growth is slowing, but Australia’s tight housing market is attracting investors, especially as confidence about interest rates grows.

July 2024

XXXX

Actuaries call to include family homes above $2.1m in pension test

The Actuaries Institute suggests it’s time to slay the sacred cow that is the family home.

Lifestyle Communities managing director James Kelly.

Fight over Baby Boomer housing takes toll on developer

The Melbourne-based developer and landlord faces the twin battles of a slowing market and criticism of a fee structure that other companies do not use.

Advertisement
Bernie Ramsay moved from Sydney to Woonona seeking a better lifestyle.

Why this is the ideal age to downsize

Move into a smaller home too early, and you miss out on the opportunity to put additional money into super. Leave it too late, and you might not be up to the task.

Yours at an average $20,000 per square metre: Kokoda Property has received approval for its $1.5 billion Skyring Terrace project in Brisbane’s Teneriffe. 

New home approvals rise to six-month high

As two project approvals in Brisbane and Melbourne show, soaring materials and financing costs have made new projects unviable for all but the priciest homes. 

The three-bedroom townhouse at 3/29 Wheatleigh Street in lower north shore Sydney’s Crows Nest sold by private treaty for $2,915,000.

The unusual move that made this seller $4.8m

Most people with a large block to offload would do just that, but this vendor developed it – and made a much bigger profit in the process.

June 2024

Life coach Margot Krekeler says downsizing requires significant physical, mental, and emotional effort.

The four biggest mistakes downsizers make, according to this expert

Many people overestimate how much they will have left over after downsizing, but smaller doesn’t necessarily mean cheaper.

Affluent niche: Developments targeting the downsizer market are booming.

Apartment sales boom – in the $1 million-plus price range

Soaring materials and financing costs are making most apartment projects unviable. But there’s a niche of the development market that is booming.

Original URL: https://www.afr.com/topic/property-downsizing-1mrj