According to The Australian Financial Review, retirees could be a key beneficiary of the federal government's HomeBuilder program, which the industry estimates could stimulate an additional 1000 retirement and land lease sales – or a 44 per cent increase on expected transactions – between June and December.
While much of the focus around the $25,000 cash grant for qualifying new home builds has been on first home buyers, it could also provide a much-needed incentive for retirees to downsize and buy into new homes.
"Something like this could be a great catalyst for people to downsize," said Simon Owen, the chief executive of Ingenia Communities, a provider of affordable accommodation under the so-called land lease model, under which an owner buys a dwelling but rents the land on which it sits.
James Kelly, the managing director of Ingenia's Victoria-focused rival Lifestyle Communities, agrees.
"It's the biggest home buyer's downsizer grant we've ever seen," Mr Kelly said. "No-one thinks this applies to them because it never has before. That's why it's so exciting."
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