Older people open to downsizing but undersupply of smaller homes and stamp duty among barriers
Australian retirees are increasingly interested in downsizing their homes, but face significant barriers including a lack of smaller housing options and high stamp duty costs. A Productivity Commission interim report suggests that regulatory reform is necessary to improve housing affordability and supply.
Why it matters
Addressing housing supply for older citizens is a critical economic and social issue in Australia, impacting both the real estate market and the quality of life for seniors.
Eleanor Shearing has been trying to downsize for about four years. ( ABC News: Tim Morris )
Link copied Share Share article As 78-year-old Eleanor Shearing looks over the cluttered boxes around the place she's lived in for 50 years, a mix of nostalgia and anxiety set in.
Seaford, a coastal suburb of Adelaide, is where she raised a family, formed a community and made a life.
But her three-bedroom home is now getting harder to live in, and on a single income, it's also becoming harder to pay for.
After four years of trying to downsize, Ms Shearing fears she might have to leave Seaford entirely.
Eleanor Shearing still has a photo of her home in Seaford when she bought it in the 1970s. ( ABC News: Tim Morris )
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