13 May 2013
New research has listed the suburbs of Sydney with the highest percentage of older people who are likely to downsize to an apartment, says the Urban Taskforce.
“Suburbs in the inner west like Strathfield, Ashfield and Marrickville have more than 20% of their population over 55 and as these Baby Boomers retire many will want to downsize into apartments in the same suburb,” says Urban Taskforce CEO, Chris Johnson. “Apartments for retirees will need lifts so councils must plan for buildings of at least 5 to 6 storeys to be economically feasible.”
“The Urban Taskforce is highlighting this issue as the over 65s will double by 2050 and with better health care many retirees will be looking to down size where they can lead active lives close to amenities. Our members are seeing a growing trend towards more apartments being purchased by retirees.”
“Examples of apartment projects that have become popular with retiring seniors are Breakfast Point in Concord which has a number of apartment buildings occupied by older people, located close to coffee shops, a village centre and waterfront walkways. A new concept of designing apartment buildings over large supermarkets has also attracted older residents at Top Ryde and at Balgowlah.”
“The research into the location of Sydney’s ageing population has been conducted by MacroPlan Dimasi for the Urban Taskforce and it uses data from the 2011 census.”
“A north west hotspot for the aged has emerged around Carlingford, Epping and Ryde which all have over 25% of their population over 55 at the last census. The coastal suburbs of Maroubra (25.2%) and Randwick (20.8%) are contenders for more Baby Boomer downsizers as well as the Hills District with Castle Hill (27.4%) and Baulkham Hills (24.73%).
“The Central Coast and the Pittwater council areas have more than 30% of residents over the age of 55 and will have large numbers of retirees looking to downsize as they move out of full time employment.”
“The Urban Taskforce believes that government at all levels should be encouraging older people to downsize to apartments as this keeps them active mentally and physically for many more years before failing health makes the more traditional retirement home necessary.”
“Governments at state and local level should look at eliminating stamp duty for genuine downsizers, allowing extra floor space to support more communal areas and for councils to allow more zoning for apartments around transport nodes and town centres.”