{"id":13802,"date":"2025-07-22T16:21:09","date_gmt":"2025-07-22T16:21:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/13802\/"},"modified":"2025-07-22T16:21:09","modified_gmt":"2025-07-22T16:21:09","slug":"baby-boomers-drive-surge-in-downsizing-across-australia","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/13802\/","title":{"rendered":"Baby boomers drive surge in downsizing across Australia"},"content":{"rendered":"<p>\u201cMany haven\u2019t bought or sold in decades, so navigating today\u2019s fast-paced market can be overwhelming. It can almost be like working with <a href=\"https:\/\/www.mpamag.com\/au\/news\/general\/first-home-buyers-struggle-with-rising-prices-deposits\/539358\" target=\"_blank\" rel=\"nofollow noopener\">first-home buyers<\/a> \u2013 they\u2019re unfamiliar with current pricing, processes, and expectations.\u201d<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/07\/0376_638887878747083629.jpg\" style=\"float: right; width: 250px; height: 269px;\"\/>Solano (pictured right) noted that most downsizers are searching for single-level, low-maintenance homes that allow them to age in place. However, he said the process can be complicated by emotional ties to family homes and unrealistic expectations about <a href=\"https:\/\/www.mpamag.com\/au\/news\/general\/home-values-rise-over-decade-despite-recent-dip\/535555\" target=\"_blank\" rel=\"nofollow noopener\">property values<\/a>.<\/p>\n<p>\u201cSome sellers have inflated expectations of their home\u2019s value, while underestimating what it costs to buy again,\u201d said Solano. \u201cAdd to that the stress of coordinating a sale and purchase in a short timeframe, and it becomes a daunting process.\u201d<\/p>\n<p>Stamp duty remains a significant obstacle for older Australians considering a move. \u201cWhile some states offer concessions for pensioners, the thresholds are outdated and don\u2019t reflect current market price points,\u201d Solano said. \u201cIt\u2019s unfair that someone in their 70s pays the same transfer duty as a 30-year-old. We need targeted reform. Offering stamp duty concessions on properties up to $1 million for Australians over 60 would make a real difference.\u201d<\/p>\n<p>Finder\u2019s research points to the financial challenges facing retirees, with <a href=\"https:\/\/www.mpamag.com\/au\/news\/general\/retirees-reluctant-to-downsize-as-housing-crisis-hits-younger-generations\/492664\" target=\"_blank\" rel=\"nofollow noopener\">downsizing<\/a> becoming a common approach to stretch retirement savings. Solano added that supporting this trend could also help address the country\u2019s housing supply issues.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cMany haven\u2019t bought or sold in decades, so navigating today\u2019s fast-paced market can be overwhelming. It can almost&hellip;\n","protected":false},"author":2,"featured_media":13803,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[64,63,4832,44,15336,15335],"class_list":["post-13802","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australia","tag-au","tag-australia","tag-downsizing","tag-news","tag-rebaa","tag-retirees"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/13802","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=13802"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/13802\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/13803"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=13802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=13802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=13802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}