Melbourne CBD developers are looking to diversify to areas where returns are more certain, there is reduced risk, fewer days on market, and lower costs per sale.
With property values starting to improve, astute empty nesters in Darwin are realising that now is the perfect time to downgrade from a spacious family home into a modern apartment.
The state government must reduce stamp duty for older Australians who are downsizing, and provide incentives to encourage people to move to regional towns, says John Cunningham, president Real Estate Institute of New South Wales.
Barnett government will cut stamp duty for seniors if re-elected
Hayden Groves, president of The Real Estate Institute of Western Australia, has welcomed the Barnett Government’s announcement it will cut stamp duty for seniors by $15,000 if re-elected.
“There are a significant number of empty-nesters who no longer need four and five bedroom homes, yet there are economic and legislative factors at play that are forcing them to stay put."
With modern day society becoming increasingly time-poor, there is growing appeal for the low-maintenance lifestyle that comes with buying an apartment.
