ANALYSIS: 'Rightsizing' is on many Australian wish lists — but there's a barrier in the way
Older Australians aspire to attain or retain home ownership. Their preferred neighbourhood has shopping, medical, recreational and public transport services all within walking distance.
Downsizers appear mobile. While under a quarter downsized within their original neighbourhood, 42 per cent moved to a neighbourhood completely new to them. The survey finding of a lack of suitable housing options matching would-be downsizers' preferences may explain why so few were able to downsize in their original neighbourhood.If the local market does not have enough options available to meet the needs of older households, it is very difficult to downsize within an existing community.Tiny houses aren't for everyone, but most people who live in them are positive about the experience.
Equity-rich older Australians may wish to build a new dwelling in which to downsize. But they are often unable to borrow for this unless they have considerable capital available. To support this avenue, new development finance models could be created to allow older Australians to develop without first having to sell the primary home.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Awkward shadow at Australian Cricket AwardsDavid Warner's has delivered an emotional speech as he and Ellyse Perry were named Australian Cricket's best at the Australian Cricket Awards, the third time each they've won the award.
Read more »
The advantages of owning property are most striking as we approach retirement ageExclusive Australian Bureau of Statistics data reveals the staggering difference in wealth of older Australians in owner-occupied households compared to those that rent.
Read more »
Four more Australians test positive for coronavirus on board cruise shipBreaking: Four more Australians have tested positive for the coronavirus on the Diamond Princess cruise ship | paulsakkal
Read more »
High Court to rule on whether Australia can deport two Aboriginal 'aliens'Two Aboriginal men will learn whether the government can deport them when the High Court hands down a judgment on Tuesday.
Read more »
Four more Australians test positive for coronavirus on board cruise shipFour more Australians have tested positive for the coronavirus on the Diamond Princess cruise ship, taking the total number of infected Australians on board the vessel to 11
Read more »
Indigenous Australians barred from constitutional reform in Morrison government's leaked rules to First Australians advisory groupIndigenous leaders have been barred from pursuing constitutional reform within the Morrison government's new peak advisory group on a voice for First Australians, under leaked rules that try to stop them speaking up | CroweDM
Read more »