Downsizers to capitalise on property bounce back
Downsizers are tipped to cash in on their home equity as the Australian property market shows signs of recovery.
Ingenia Chief Operating Officer, Nikki Fisher, said the property market was showing signs of recovery with auction clearance rates rising to 75 percent and home prices up by nearly two percent in Sydney and Melbourne.
“Owners who want to downsize should start thinking and preparing now, so they can make significant gains from the sale of their home by timing the market right,” Nikki said.
Nikki says while it’s still a buyers’ market, she expects that to change soon.
“The recent drops to cash rates, loosened lending conditions and First Home Owners Grant schemes are encouraging new buyers into the market.
“The increased activity is making the market more competitive, pushing up property prices and creating an ideal situation for homeowners who are thinking of downsizing,” Nikki said.
General Manager Sales Kate Melrose said Ingenia was already fielding enquiries from buyers who were planning their next move, now that the market was bouncing back.
“We are seeing a spike in the number of enquiries from people wanting to downsize now that the market has turned.
“Many homeowners deferred downsizing while waiting for their property value to peak – we are now seeing significant demand from these keen downsizers who no longer want to wait and want to start living a better life sooner,” Kate said.
Ingenia Lifestyle has a favourable land lease model where residents purchase their home and lease the land, giving over 55s an affordable way to own a new home and be financially independent.
“Ingenia saw a record number of people settle in their communities in the last financial year, showing the demand for the simple and cost effective land lease model.
“Not having to pay stamp duty or entry/exit fees are major incentives for buyers who are looking to fund a more comfortable future,” Kate said.
For more information on Ingenia Lifestyle and their unique land lease model visit www.ingenialifestyle.com.au.