Rare Australian homes held for decades flood the market

There has been a wave of long-held properties hitting the market across Australia. A wave of tightly-held properties are hitting the market for the first time in decades as many senior Australians pass down or sell their beloved homes. Raine & Horne Group executive chairman Angus Raine said they were noticing an intergenerational wealth transfer right across Australia, which was creating unprecedented opportunities to buy properties that had long been off-limits. An ageing population and changing family circumstances were also contributing to the wave of activity, he said. “For many families, properties that have been held for 20, 30 or even 50 years are more than just real estate,” Mr Raine said. “They represent decades of capital growth and family history. Raine & Horne Group executive chairman Angus Raine. Picture: Supplied. 13-17 Resthaven Rd, Parafield Gardens. “As ownership passes between generations, properties are being sold to unlock equity, simplify estates or to help the next generation establish their own financial future. “In my 35 years in real estate, I can’t recall seeing so many property advertisements highlighting that a property is being offered for sale ...