Designing for Downsizers

Downsizers or Rightsizers, are one of the strongest performing segments of the property market, next to first home buyers, and have been for some time. We decided to take a look at the cashed-up segment and what it is they really want when it comes time to downsizing.

Queensland’s aging population means that there has never been a better time to design for downsizers. In Brisbane alone, the population of those aged 55 and above is expected to increase by over 60,000 by 2036.

Recent research from the Australian Housing and Urban Research Institute (AHURi) found that the two driving motivations for downsizing are improved lifestyle and financial outcomes. Secondary to that is the time and effort attributed to maintenance of their existing home, with 71% of respondents who had considered downsizing stating this as the main benefit.

Ellivo Architects conducted a national survey of persons over the age of 50, to investigate what factors will contribute to their decision to downsize, and what barriers are holding them back from making the shift. Most respondents were aged 60 to 70, were married or with a partner, and are residing in or around a capital city.

Ellivo’s research found the below priorities for people anticipating a downsize:

Research conducted by realestate.com.au delves further into buys preferences pertaining to new property purchases.

Research finding from realestate.com.au’s Developer Insights series.

The takeaways.

Downsizers are looking for standalone properties or boutique apartment offerings, where they feel they can retain their independence and not feel overcrowded. They express a need for intelligent designs that age with them, ensuring they can stay in their new home for longer. Though downsizing their space, the expectation is that the common amenity will compensate for the typical reduction in private entertaining areas.