Downsizing key to unlocking housing supply as over-55s hold millions of spare bedrooms

The report revealed almost nine out of 10 (88 per cent) households aged 55 and over have at least one spare bedroom, while two out of three (60 per cent) have two or more. Millions of older Australians are living in huge homes with spare bedrooms sitting empty – and a new report says unlocking them could transform the housing market. The realestate.com.au GemLife Downsizing Australia 2026 report, released today, analyses the housing market and key barriers and motivations influencing downsizers across the country. This new build is in over 50s community GemLife Pimpama at 118/3 Gemstone Drive, Pimpama. It’s for sale with a price tag of $1.25m. Source: realestate.com.au 18 Chapman Drive, Beenleigh in Queensland is on the market at offers over $1.08m. Source: realestate.com.au The report revealed almost nine out of 10 (88 per cent) households aged 55 and over have at least one spare bedroom, while two out of three (60 per cent) have two or more. That’s compared to one third (32 per cent) of 25 to 54-year-old households that have only two or more. Currently, 29 per cent of Australians are aged 55 or over, a share predicted to rise to 35 per cent by 2050, according to the ABS. MORE NEW...