First up this week, news is out that downsizers have finished the year on a high by dominating Australia’s apartment market.
A new report by planning consultancy Urbis finds that demand from owner-occupiers - including downsizers - is at its highest level since at least 2015. Meanwhile, overseas buyers that were once a major driver of the apartment market have fallen from a peak of 29 percent in 2016 to now only represent five percent of buyers.
At the same time, the NSW Government has unveiled further details of its independent developer rating tool. Three developers have already received a star rating under the tool, and have been deemed to be trustworthy, with a further 50 expected to be part of the initiative by March.
In other news, Ryman Healthcare has purchased yet another retirement village site in Melbourne, as the New Zealand-based operator continues its plans to become Victoria’s largest operator.
And we loved this story from Toowoomba, where a retirement village celebrated its 30-year anniversary by paying homage to the site’s previous history as a drive-in theatre. Residents of RetireAustralia’s Drayton Villas retirement village took a step back in time by snuggling up in comfy chairs and watching classic musical Grease on the outdoor big screen.
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