Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Joel Robinson

Red & Co unveils amenity-rich Como development in Varsity Lakes

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.

The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.

The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.

The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" />

BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.

At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.

The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" />

The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-36" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-17" dir="auto">
Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.
</section>

[smartcode_project_cta:default project_id=150260]

Big Projects secures approval for Glenelg Residences in Mermaid Beach

Sherpa Group is ramping up its investment in the southern Gold Coast by lodging a development application for <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, a new $350 million project in Coolangatta.

The move comes after the group’s $27 million acquisition of the 2,029 sqm site on the corner of Griffith and Warner Street, last year.

They will develop 194 apartments across a 26-storey tower, which will become Sherpa’s largest project to date.

Viveré will be the next chapter in the Flourish story, following closely behind Amargo, Oasis, and the Avenues in Palm Beach, as well as Symphony in Brisbane, all designed to deliver affordable housing in lifestyle-rich locations, giving locals a real chance to secure a residence close to the beachfront.

The HAL Architect-designed project will offer a diverse range of residences, from one-, two, and three- bedroom apartments to the premium Canopy range to luxury penthouses.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c85f5a7e-a22f-4745-8def-400adb3c0b35" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.43%E2%80%AFAM.png?VersionId=OY.chur3BPExn1exQ2q8clHqWnW_CaBi" />

“The Gold Coast is undergoing a period of immense growth, with more people drawn to the incredible 
lifestyle that’s available, leading to strong growth in property prices,” said Christie Leet, founder of Sherpa 
Group.

“Our goal at Sherpa is to ensure locals are not priced out of the market in prime locations, which is why we 
created the Flourish collection.

“Flourish Vivere will form the next chapter in our portfolio, and we are so excited to be lodging the DA, marking our first project in Coolangatta.”

A signature of the Flourish developments is the communal rooftop. Flourish Vivere will showcase a private resident’s lounge, outdoor dining with barbecues and pizza ovens, heated pool, fully-equipped gym, and a wellness centre with sauna and steam room.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c09372cc-aae6-4458-af2e-f291bd19a5e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.49%E2%80%AFAM.png?VersionId=Sc_RLXl5jiff.tnadogXjQJ_WIpDjf3p" />

The project is strategically located to offer a walkable lifestyle, with the Strand shopping centre, cafes, restaurants, shops and the beach, all just a short stroll away.

“We have meticulously planned Vivere to build on the Flourish legacy, creating a truly special project,”&nbsp;Leet added.

“Wellness, lifestyle and community are at the forefront of every decision we make, and that has not 
changed for Vivere.”

With the DA now lodged with the Gold Coast City Council, Sherpa has moved quickly to secure LPS Group as the builder, offering buyers a level of certainty that is rarely seen in today’s market.

Sherpa has delivered 16 residential projects over the past seven years with a pipeline of $1 billion, with more under construction.

Sherpa takes Flourish brand to Coolangatta, lays plans for Flourish Vivere 

S&amp;S Projects is boosting its investment at Rainbow Bay to more than $1 billion after the prolific Gold Coast developer acquired a new site for $20.25 million and immediately laid plans for a new luxury apartment project in the sought-after precinct.

The site, which is the company’s fifth acquisition at Rainbow Bay in the past four years, will be home to the company’s largest project to date after delivering 3 sold-out projects and construction progresses on Radia worth a combined $215m. 
S&amp;S Projects is currently finalising plans for its latest strategic acquisition, a 1,518 sqm site located 209-213 Boundary Street in Coolangatta, with a development application expected to be lodged within weeks.

The luxury residential development will build on the company’s highly successful projects at Rainbow Bay, comprising Flow, Awaken, Esprit and Radia, with Radia currently under construction by Hutchinson Builders.

“We have been unflinching in our commitment to Rainbow Bay and the transformation we have helped drive in this incredible part of the Gold Coast, which is among the city’s most desirable residential locations,” said S&amp;S Projects founder and director Paul Gedoun.

“Our fifth project will reflect the best of what we have done so far to create a lifestyle precinct that is second to none.”

The latest development, which has yet to be named, is proposed to accommodate 88 luxury apartments in a design that will immerse residents in a unique wellness lifestyle that expands on the legacy of S&amp;S Project’s earlier developments at Rainbow Bay.

The development will feature an expansive rooftop garden and wellness centre with a resort- style pool, among a host of lifestyle amenities planned for residents.

“Rainbow Bay, with its beautiful, protected beach and alongside one of the world’s best surf breaks at Snapper Rocks, is the natural wellness heartland of the Gold Coast,” said Gedoun.

“We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden.”

The latest acquisition comes as S&amp;S Projects is at the completion of Esprit and construction continues on Radia, which are part of their significant portfolio undertaken by the company at Rainbow Bay since 2022.

The $215 million Radia, which comprises 38 apartments, is currently the flagship development by S&amp;S Projects at Rainbow Bay which is expected to be completed in 2027.

Jayde Pezet, of Pezet Matheson, which has managed sales and marketing for S&amp;S Projects across their Gold Coast portfolio, emphasised the developer’s commitment to continuous improvement and excellence.

“S&amp;S Projects continue to elevate the benchmark of luxury with each development," Pezet said.

“We have worked with S&amp;amp;S on their 4 other projects in Rainbow Bay and their approach reflects a team that is constantly learning, refining, and pushing the standard higher.

“Their hyper-local knowledge and deep expertise within the luxury property sector are what truly set them apart, allowing them to deliver projects that feel both globally sophisticated and authentically connected to their coastal environment”

S&amp;S Projects plans to officially launch its latest project at Rainbow Bay in the second half of this year.

“As we embark on our largest project yet, we have pulled out all stops to create another landmark development that truly reflects the relaxed southern Gold Coast lifestyle,” Gedoun added.

S&S buys $20m Rainbow Bay site for fifth beachside apartment project

Japandi, an emerging design trend that combines Scandinavian functionality with Japanese rustic minimalism, remains relatively untested in Australia’s residential development market.

As developers look to differentiate their projects and offer something distinct to buyers, Brisbane-based developer Lantona has embraced the hybrid style for its recently launched Toowong apartment project, <a href="https://www.apartments.com.au/new-apartments/koya-residences-6-josling-street-toowong-qld-4066">Koya Residences</a>, with early response to the design proving positive.

Lantona entrusted Red Door Architecture and interiors practice Luma Design Co with delivering the Japandi brief. The approach blends Japanese minimalism with Scandinavian functionality, emphasising warm, restrained interiors, natural materials and clean lines. Drawing on the Japanese concept of wabi-sabi (beauty in imperfection) and the Scandinavian principle of hygge (comfort and cosiness), it creates serene, uncluttered and sustainable living environments.

These design principles are expressed throughout the Josling Street development, both in its exterior form and across the 40 one-, two- and three-bedroom residences within.

[smartcode_project:default project_id=150787 project_image_fid=366229]

Koya reflects a deliberately scaled approach, with the five-storey form designed to align with the surrounding residential streetscape rather than dominate it.

“Koya is conceived as a building that sits comfortably within its surroundings. Every decision, from material selection to spatial planning, has been guided by long-term liveability and enduring relevance,” the developer said.

[smartcode_project:default project_id=150787 project_image_fid=366243]

Positioned within an established inner-west neighbourhood, the development sits near riverfront parklands and the Bicentennial Bikeway, while remaining within walking distance of Toowong Village and multiple public transport options connecting to the CBD, St Lucia and West End.

Lantona said the location was central to the project’s conception, pointing to Toowong’s balance of green space, transport access and proximity to major education institutions.

“<a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> combines river access, walkability, immediate CBD connection and a strong educational presence. That balance made it the obvious setting for Koya.”

[smartcode_project:default project_id=150787 project_image_fid=366230]

Communal amenity is concentrated on the rooftop, where a shared retreat will include a pool, dining areas and outdoor spaces oriented towards neighbourhood and city views. The design allows for both private use and small gatherings, extending the living environment beyond individual apartments.

Koya enters the market at a time when smaller-scale developments are becoming less common in established suburbs, with many recent projects in the suburb shooting for the sky.

In a nod of confidence,&nbsp;<a href="https://www.apartments.com.au/builders/brisbane-builders">Brisbane Builders</a>&nbsp;has already commenced construction on the building, which is slated for completion in early 2027. Keenan &amp; Byrne is marketing Koya.

[smartcode_project_cta:default project_id=150787]

Japandi-inspired Koya Residences launch in Toowong

Propertynews

<html><body>
The Onthehouse property website, which will include the Residex data base founded by John Edwards, has been bought by CoreLogic RP Data.
OTH's consumer online division (Onthehouse.com.au, Residex and REAN, the Real Estate Ad Network) fetched $3 million.
The stockmarket listed Onthehouse Group’s strategy is now solely focused on its real estate software division.
"The board believes the business is now funded to grow Console’s real estate software products market share and leverage new revenue opportunities through integrating or building other services to real estate agents and their clients."
Earlier this year it was signalled the property website was set to be shut down after its board ended negotiations with realestateVIEW just before contracts were due to be signed on the national price data base. 
"In the absence of a sale agreement for the Onthehouse.com.au and media businesses, they will be closed by April 2016 at an estimated closure cost of circa $1.7 million," the ontheouse company said in a statement to the ASX earlier this year. 
No white knight emerged until today.
Residex was initially intended to be retained in the envisaged remaining restructure, having been forecast to deliver revenues of more than $2 million in FY16 and to operate at a break even position going forward.
It was 2012 when Onthehouse acquired the last tranche to own 100% of property data business Residex.
Onthehouse acquired a half-share in May 2011.
The second 50% of Residex cost onthehouse $3.5 million.
Residex was founded by John Edwards in 1990 to to develop house price indices for the NSW state government and has since added expanded historical residential data, suburb reports and valuation reports to its national mix of products and services.
Residex hold more than 350 million records provided to the property industry and the public dating back to 1865.
Following the sale of COD division announced today, the onthehouse company’s cash position has materially improved through the lower COD exit costs.
The estimated but now avoided cost announced in February to close the business was $1.7 million.
The estimated cost to the company to exit COD has now been revised to $1.5 million which includes professional fees on the sale of COD.
The company’s cash position is $3.2 million better off than previously expected under a COD shutdown scenario.
The group chief Chris Meehan advised discussions with the Macquarie Group hostile takeover consortium are continuing.
"Onthehouse will continue to keep the market informed in accordance with its continuous disclosure obligations," said Chris Meehan.
The takeover consortium included CoreLogic RP Data.
 
 
 
</body></html>

jchancellor-FAypfDUnLy

Onthehouse property website sold to CoreLogic RP Data

<html><body>
Reviews on negative gearing, CGT discounts, Self-managed super funds investing in residential property, foreign investment, and immigration levels are key opportunities for reform to improve home ownership in Australia, according to the Affordable Housing Party of Australia (AFHPA).
Phasing out tax advantages over a period of possibly 10 years is the mechanism suggested by AFHPA in their submission to the inquiry into Home Ownership. 
"Firstly, it is likely to encourage investors, especially long term investors, to release properties back onto the market to avoid increased capital gains tax. Hence we should see an increasing proportion of owner-occupiers within 3-5 years. 
"Secondly, as residential investment slowly becomes less tax effective there should be decline in investor interest and reducing prices over time.
"Hence the AFHPA would propose a gradual reduction on the favourable tax treatments to residential property investments.  
The AFHPA would also suggest that action be taken in the following areas:
"CGT discounts on residential property. In the first year after a change property investors would pay tax on 55% of capital gains made on property, the next year it might be, say 60% increasing each year until CGT is paid on 100% of the capital gain. 
"Increase CGT on Self-managed super funds (SMSF) investing in residential property.
"Similar arrangements would be made with SMSF however as the Federal Government has committed to a review of Superannuation the AFHPA will wait until this review is released before commenting on what the actual rate of taxation should be. 
"In the first year after a change in negative gearing investors would be allowed to claim 100% of losses on residential property against their pay as you earn tax obligations, in the second year it might be, say 90% etc."
End foreign investment in the residential property market by tightening rules pertaining to foreign investment in residential property to their pre 2008 level. 
"Because of its undoubted effect on house prices, there is an urgent need to review the current level of migration to Australia. The AHPA would encouragement the widest possible public debate before a final level of immigration was set.  
"However the AHPA position is that the current levels are unsustainable."
Demand and Supply Drivers in the Housing Market 
On the demand side, the AFHPA cites the generous tax treatment of investors in residential housing as a driver of demand and hence rising pricing in the residential property market.  
"AFHPA cites the reduction in CGT as the main driver in investor demand in the last decade. This can be seen in the increasing percentage of investor in the residential housing market since changes were made in CGT by the Howard Government in 1999. 
"Reduced CGT for residential property favours wealthier Australians. Wealthier Australians make more of their income through capital gains than poorer Australians; poorer Australians make their income through wages. 
"Reduced CGT favours Australians with excess funds that can be invested in the property market. In a similar vein the generous treatment of funds in an S.M.S.F. advantages investors over owner-occupiers. 
"However, the AFHPA also submits that negative gearing on residential property is also very ineffective. The bulk of investors using negative gearing have purchased existing properties, hence there can be no argument that negative gearing adds to the supply of housing. 
"The fact that SMSFs are allowed to included residential property further increases demand again without increasing supply. 
"Migration is not often mentioned in regard to housing affordability. The current level of immigration is one of the highest in the OECD and this increases demand in a limited market and hence puts upwards pressure on housing prices. 
"Australia now has a business migration program where applicants for immigration are selected on their financial status. The basic idea being these applicants will have funds to invest in Australia. 
"To date the AFHPA knows of no economic study as to where these funds are being invested. If the funds brought to Australia are being invested in the residential property market, then this doubly affects housing affordability. 
"Finally, investment in existing residential property does little to improve the economic position of Australia. 
"Effectively what is happening is Australia is repricing its existing assets, no real wealth is being created. Wealth is simply being transferred from one generation to the other. 
"The funds invested in property could be better applied to other areas. Although State Governments improve their budgets positions through increased stamp duty and lending organisations make greater profits as housing prices rise, but this is not wealth creation." 
</body></html>

Wind back on favourable tax for residential property investors: AFHPA

<html><body>
The Australian Government should formulate a national housing strategy that sets clear directions for Australia’s housing sector, according to not-for-profit group National Seniors Australia.
In the submission to the House of Representatives Standing Committee on Economics, National Seniors also recommended the examination of all types of housing and issues associated with access, adequacy, affordability and security by utilising findings from the Inquiry on Homeownership, the Inquiry on Affordable Housing, the Federation Review and the Tax Review. 
"Outright homeownership has been falling for people aged 55 and over (39.7% in 2001 to 32.1% in 2011)meaning that a greater number of older Australians are either paying off mortgages during retirement or moving from homeowner-occupier into alternative forms of accommodation.
"Other reasons for a fall in homeownership amongst older Australians include loss of paid employment and significant life events such as divorce or losing a partner. 
"Research suggests that insecurity within the private rental market amongst older Australians has led to a shift to public housing.The Australian Housing and Urban Research Institute (AHURI) has found that older public housing households are expected to increase from 87,940 in 2001 to 109,560 in 2016, an increase of 24 per cent.
"In the 85+ age group these are expected to increase by 155 per cent. 
"Furthermore, by 2026 the number of lower-income people aged 65 and over who are living in rental households (as homeownership falls) are projected to far exceed the supply capacity of the social housing system. 
"Census data from 2006 to 2011 shows a steady increase in the number of renters aged 55 and over in the private market."
National Seniors Australia recommends that the Australian Government, in collaboration with state and territory governments, examine tenancy regulations, rights and advice services.
The aim would be to deliver security and support for long-term renters; recognise that renting in the private market is a significant form of tenure for many Australians; and increase the attractiveness of this form of tenure for Australia’s long term housing needs. 
"Older renters experience significant anxiety linked to their security of rental tenure and many experience housing stress.Such housing stress is magnified due to rent increasing well above CPI and the insufficiency of Commonwealth Rent Assistance. 
"Renters face a number of disadvantages including forced moves which greatly contribute to instability. The frequency of moving between owners and renters in Australia is the highest in the OECD.
"The lack of long term (beyond 6-12 months) leases available to Australian renters increases instability.  
"Limiting the ability of property investors to terminate leases for ‘any reason with notice’ to a list of prescribed criteria, allowing pet ownership and minor alterations to the rental property would greatly enhance the lifestyle available to renters.  
"Improving the stability and security of tenure for a renter would provide them with the ability to receive similar non-financial benefits available to home owners.
"Creating greater equity in the Australian housing market would reduce the desire to become a homeowner, subsequently reducing the demand which is currently driving high housing prices in the market. 
"National Seniors recommends that the government investigate policies that will address barriers to downsizing (or 'rightsizing') for older Australians, for example, a national ‘rightsizing’ program. 
"Older Australians face barriers to relocating including: the inability to find value for money, stamp duty, moving costs, lack of suitable housing in familiar surroundings with easy access to required amenities, and impacts of selling the home on Age Pension eligibility. 
"These barriers also decrease capacity for older Australians to access equity in their home to assist with living costs during retirement. 
"Proceeds from the sale of the family home continue to remain exempt from the Age Pension assets test for up to 12 months, as long as the funds are intended to buy another home. 
"However, any interest earned on sale proceeds is counted under the income test, and, if a cheaper home is purchased, any surplus cash is included in the Age Pension asset test. 
"Concerns regarding the proceeds of the sale of the home being subject to the Age Pension assets test discourage 20 per cent of all seniors, and 30 per cent of Age Pensioners from selling the home.
"In 2013 the then Labor government announced the Supporting Senior Australians—housing help for seniors pilot,to address some of the barriers to downsizing that older Australians face. 
"The pilot exempted a portion of sale proceeds from the Age Pension asset test. However, it also applied restrictive conditions, including the requirement that a homeowner had to own their home for more than 25 years and quarantining the proceeds for ten years. 
"As an alternative National Seniors has called for the implementation of a ‘Rightsizing’ program that exempts up to $150,000 in proceeds from the sale of the home from the Age Pension income or asset test. 
"Excess sale funds could then go towards critical services, such as health costs, significantly reducing the burden on government-supported health systems. 
"The recent changes to the Age Pension asset test (legislated in June 2015) will provide an even greater deterrent for seniors to right-size. Reconsideration should be given to a program that allows seniors to right-size without the threat of future reductions to their Age Pension payments." 
National Seniors recommends that the states and territories provide concessional stamp duty to older Australians to encourage downsizing and maintenance of homeowner-occupier tenure. 
"A reduction in stamp duty would encourage older people to right-size their homes and improve quality of life, while also providing many younger Australians access to suitable family homes which would not otherwise be available."
 
</body></html>

Propertynews

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Propertynews

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News