Australians over 50 are increasingly prioritising lifestyle and, for many, that means downsizing.

This shift is fuelling a growing movement as more homeowners swap their old properties for something newer, more manageable, and better suited to how they want to live.

According to a recent report by realestate.com.au and GemLife, one of Australia’s leading lifestyle resort developers, three in five downsizers would consider moving to an over-50s lifestyle or retirement community.

Lifestyle and financial security are key drivers of this trend, and with growing demand, more lifestyle communities are popping up in Australia’s eastern states.

While some of these offer a smaller home in a nice neighbourhood, others go above and beyond by offering beautiful homes with resort-style amenities and creating communities where residents are thriving and leading active and connected lifestyles.

A new way of living

With beach-side communities like Bribie Island and the Gold Coast in Queensland and Rainbow Beach on the NSW Mid North Coast, as well as country retreats like Woodend in Victoria, GemLife is seeing this downsizing shift first-hand.

“Today’s over-50s are redefining what it means to downsize,” explains Andrew Coulter, GemLife’s Chief Operating Officer.

“For many, it’s not about cutting back – it’s about stepping up. They’re looking for homes that offer more freedom, more enjoyment, and more of what matters – not less.”

He says that many people are now keen to transition to lifestyle-living at earlier stages, including when they’re still working, so they can actually enjoy the benefits.

“A common myth is that over-50s lifestyle resorts are just retirement villages in disguise – quiet places for people winding down. But that couldn’t be further from the truth,” he says.

“GemLife homeowners are anything but sedentary.

“They’re travellers, volunteers, creatives, athletes – involved in everything from walking groups and rock bands to craft classes and extended caravanning trips,” he explains.

Transforming lifestyles for the better

Among the early adopters experiencing this new property option are 66-year-old Kay Wilson and her husband, Ian, who recently moved into a budding GemLife community on the Gold Coast after deciding it was time to downsize from their family home.

“We went and saw a few places, and then we visited GemLife,” Ms Wilson says.

“GemLife had communities on the Sunshine Coast, and in looking at what they offered for the money, and the quality of the homes, it just seemed to surpass the others we looked at.”

She loved the spacious layouts, which had stone benches, beautiful cabinetry, walk-in pantries and huge linen cupboards.

“Everything is ducted air-conditioned with beautiful louvered shutters,” she says.

“We also have a nice outdoor area with an opening roof.

“The houses are really lovely and when we’ve had people visit, they were really impressed.”

But for Ms Wilson it was the resort’s Country Club that was the “icing on the cake.”

“It’s a beautiful space with a stage and a stunning bar that overlooks the outside area all the way to the Surfers Paradise skyline,” she says.

“There’s a beautiful library with three sections, a hairdressing salon upstairs, an indoor heated pool, and two outdoor pools that rival any five-star resort.”

She also highlights the games room with billiard tables, the golf simulator, and the bar where she and Ian go for drinks on Friday afternoons.

The couple have already made new friends in the community who gather for end-of-week drinks – when they’re not jetting off on holidays.

Mr Coulter says that’s the type of lifestyle that people come for, including a strong social aspect.

“There’s real power in living somewhere that supports your health, happiness, and connection,” he says.

Living in quality and comfort

When it comes to choosing a home at GemLife, there are plenty of designs available, but low maintenance and modern comfort are always top of mind.

“Our homes are beautifully designed with high-end inclusions as standard, not just upgrades,” shares Mr Coulter.

He also explains that the homes are generous, featuring wide hallways, spacious bathrooms, and smart layouts, while still being low maintenance.

The communal outdoor spaces mean residents are not stuck mowing the lawn every weekend, and functionality remains front and centre with storage solutions and smart laundries.

It’s also an option with a smart financial model where people actually own their own homes, Mr Coulter adds.

“Our homeowners own their home and lease the land it’s on,” he says.

“This model means no stamp duty, no entry or exit fees, and no sharing of capital gains. Just a straightforward, transparent weekly site fee.

“It’s a simpler, smarter way to secure a quality home in a premium community – with none of the complications that can come with other models.”

The post Why smart downsizers are rethinking what ‘home’ looks like after 50 appeared first on realestate.com.au.

First home buyers may be placed at higher risk of default under the scheme.

The Federal Government’s First Home Buyer Scheme officially launched today, but a leading real estate expert has warned that the program’s promise of homeownership with as little as a 5 per cent deposit could leave buyers in dangerous financial territory, while costing them hundreds of thousands of dollars extra in interest over the life of the loan.

Aaron Scott, co-founder of the real estate agent comparison service bRight Agent, says the lure of a 95 per cent loan, without having to pay Lenders Mortgage Insurance (LMI), carries hidden costs that could leave first-timers financially exposed.

“Firstly, the true ownership percentage that you have is very small (just 5 per cent),” Scott said. “So if anything happens, you don’t have much equity remaining.

“Any impact to your property, such as natural disasters, termites, water leaks, or changes to your employment status, health conditions, etc, and you could find yourself very quickly in negative equity.”

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Negative equity, when the outstanding loan exceeds the property’s current market value, has historically left thousands of Australians trapped during downturns, unable to sell or refinance and at heightened risk of default.

bRight Agent founder Aaron Scott (right).

Scott says the second major risk is the repayment curve.

“Ask anyone and they’ll tell you the first decade of paying off your mortgage is the toughest. This period typically takes the smallest amount of principal off your loan, meaning you’re paying a lot and not really getting ahead,” he said. “A 95 per cent mortgage, however you cut it, is essentially just prolonging this difficult part of the cycle.”

The third sting comes from the banks. While the Government underwrites the risk, Scott says lenders are still gouging buyers through higher interest rates.

As of October 1, the big four all charge significantly higher rates for high Loan-to-Value Ratio (LVR) loans.

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“In one of the worst examples, CBA could slug first home buyers up to 1.6 per cent extra for a 95 per cent loan compared with an 80 per cent loan,” Scott said.

“On a $1 million property, that rate difference adds up to $1826 extra every month. The First Home Buyer Scheme should be about helping Australians into homes, not helping banks into bigger profit margins. This interest-rate disparity is price gouging on a national and generational scale.”

As is common with compound interest, the biggest difference is in the long-term cost of the loan itself.

An 80 per cent loan of $800,000 at 5.79 per cent costs about $1.688 million in principal and interest repayments over 30 years.

Prime Minister Anthony Albanese brought forward an extension to the scheme to October 1. Picture: Martin Ollman

A 95 per cent loan of $950,000 at the same rate costs around $2.004 million.

“That’s an extra $316,000 in repayments, simply because you took out a 95 per cent loan,” Scott said.

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While the scheme is designed to get younger Australians onto the property ladder sooner, Scott argues it could saddle them with decades of financial pain.

“It’s important to understand what you truly can afford, and prospective homeowners should be very cautious,” he said.

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A major shake-up to the First Home Guarantee is set to fast-track more Australians onto the property ladder, cutting through one of the toughest markets in decades. 

From 1 October 2025, major changes to the First Home Guarantee, part of the Home Guarantee Scheme, will make it easier and more affordable for first-home buyers to enter the market. 

Here’s what first-home buyers need to know: 

• The scheme now offers unlimited places, removing the previous cap on applications and eliminating long waiting lists. 

• Higher property caps have been introduced to better reflect contemporary market prices.  

• The removal of income caps means all eligible first-home buyers can now apply for the scheme, regardless of their income level.  

• Required deposits have also been reduced. 

These changes could make the dream of owning a home more attainable for thousands of households. 

Opening doors for first-home buyers 

The new property price caps vary by location, aligning more closely with current market conditions. In the capital cities they include: 

• Sydney: $1.5 million 

• Melbourne: $950,000 

• Brisbane: $1 million 

• Canberra: $1 million 

• Perth: $850,000 

• Adelaide: $900,000 

• Hobart: $700,000 

In a major change, the First Home Guarantee now allows buyers to secure a property with a deposit as low as 5% without paying costly Lenders Mortgage Insurance. 

Instead, the government provides a guarantee for a portion of the loan to the participating lender, reducing reliance on larger savings or parental assistance.  

On a $700,000 home, a 5% deposit equates to $35,000, while a $900,000 property would require $45,000. 

According to Emily Reiss, general manager of land acquisition and house and land at Simonds Homes, the latest updates will finally turn the dream of home ownership into a reality for many Australians. 

“It’s a real game-changer. For so many people, saving for a deposit has been the biggest hurdle, especially with the cost of living continuing to rise,” Ms Reiss says. 

“By broadening the scheme, more people now have a genuine chance to step into the market.” 

Ms Reiss says that she is already seeing growing confidence from first-home buyers who might’ve felt locked out before. 

“On top of that, avoiding Lenders Mortgage Insurance saves tens of thousands of dollars, which is money they can put towards their home,” she says.  

“It makes the pathway more straightforward and a lot less daunting.” 

From savings to keys: Navigating the new scheme 

Buyers planning to take advantage of the October changes can get prepared by checking eligibility criteria, understanding updated property caps and engaging early with participating lenders to get clarity on application processes. 

Ms Reiss says the scheme’s expansion highlights the importance of balancing affordability with design quality. 

To help buyers stretch the value of government support while still achieving a home that meets their needs, thoughtful planning and smart build choices go a long way. 

“We’re really conscious that affordability can’t come at the cost of quality,” says Ms Reiss. 

She explains that her team works hard to design homes that maximise space, function and style within realistic budgets.  

“That’s why we offer house and land packages, move-in ready homes from our Ready Now range, and contemporary townhomes in communities with strong growth potential,” she says. 

Affordable builds for growing families 

Many Simonds home designs now fit within the new property caps, offering flexible layouts that suit a range of lifestyles and family sizes. 

In Victoria, that includes four-bedroom, three-bathroom townhomes from $509,000, Ready Now homes priced between $650,000 and $799,000, and house and land packages starting from $531,000. 

House and land packages in south-east Queensland and South Australia also fall under the new thresholds. 

“From October we expect to see a much wider group of buyers making the move from renting to building,” says Ms Reiss. 

“From young couples just starting out to families looking for a bit more space and even single buyers who now have more flexibility under the scheme. Suddenly a home that ticks their wish list is no longer out of reach.” 

The post 2025 First Home Guarantee changes: What to know about buying after October 1  appeared first on realestate.com.au.

The intriguing Aqueduct and Tent House in Northcote has hit the market for the first time.

Roll up, roll up, roll up for an intriguing Northcote home that looks like a medieval circus tent.

The curtain has been lifted for the first time on the quirky local landmark, best known to neighbourhood kids as “the circus house”, after it was listed for sale.

Architect Simon Thornton let his imagination run wild on the two-bedroom residence that also surprisingly hinges on a Roman-inspired wooden aqueduct.

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Built 16 years ago, the Aqueduct and Tent House is just one of many wacky one-off homes he’s designed across Melbourne and Victoria.

Others include a Brunswick extension that takes the form of a milk carton and a Woodend home shaped like a crashed rocket.

Those with a playful streak may also be inclined to toast Thornton’s cheeky addition to a former Temperance Hall which resembles a wine bottle and glass.

Jellis Craig, Northcote listing agent Justin Mellar said neighbours were among those lining up to see inside the Aqueduct and Tent House at 5 Atkinson St, Northcote.

The low-maintenance property still has room for a swimming pool and deck.

Archways feature throughout the home in a nod to Roman architecture.

The kitchen has a walk-in pantry and Miele and Siemens appliances.

“It was probably one of the houses I’ve been most excited to walk into because you don’t know what is behind that crazy facade,” Mr Mellar said.

“It is much more modern internally that you would think … the feedback is that once you get inside it’s actually really beautiful, it’s elegant, it’s grand and it’s built to a really high quality.”

Creativity meets comfort throughout the two-storey house, where the aqueduct acts a north-facing corridor framing views of a swimming pool and outdoor entertainment area.

The circus tent carves out space for a triangular open-plan living area with a reading nook and well-appointed kitchen.

Mr Mellar said the vendor, now in her 90s, was a widower who designed the house only with herself in mind.

The outdoor entertainment area is on the northern side of the house.

The house has two bedrooms with ensuite bathrooms.

“She thought ‘it’s going to be my last house, I don’t really care what happens afterwards’. Whereas with a lot of houses that we see built consider the resale value and try and appeal to the masses,” he said.

He’s set a $2m price guide for the property and is calling for expressions of interest by October 21.

The architect said the long, narrow site, little more than 5m wide, and the owner’s previous work running a die cast factory inspired the aqueduct design.

He then added a medieval tent as a lightweight historical element to counterbalance the aqueduct’s heaviness.

Thornton’s pursuit of fictional architecture, with a story of its own, also led to his Milk Carton House extension in Brunswick.

The Milk Carton House extension.

Simon Thornton’s ‘Rocket House’ is designed to look like a crashed rocket.

It looks exactly like a milk carton, right down to the used-by date on the roof, and includes milk-drop light fittings and a ‘puddle’ of split milk in the landscaping.

“It’s very hard to explain it rationally but I just felt the form of it was tall and think and it really was the kind of milk carton that was on the table at home,” Thornton said.

“I had the idea of taking that actual carton and making a model of the house extension and showing it to the owners.

“First they thought I was just lazy and using a milk carton because I couldn’t be bothered making a proper model then they realised that it was supposed to be looking exactly like that.”

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Experts warn the Home Guarantee Scheme will have an inflationary impact on the market and warn that home buyers could ultimately end up paying more for their home loan.

An influx of first-home buyers will be preparing to enter the market between now and Christmas as the expanded Home Guarantee Scheme comes into effect.

From 1 October, the expanded scheme offers unlimited places, no income caps and increased property price caps to help more Australians buy their first home sooner. The scheme has already supported more than 240,000 home buyers buy a home.

But some are concerned about the potential for desperate buyers to search for loopholes that can be used to exploit the Home Guarantee Scheme and get them in the market, even if they don’t meet the eligibility criteria.

Others are querying the veracity of the scheme, particularly given it’s potential to force an inflationary impact on the estate market.

New South Wales-based Mortgage Choice mortgage broker Rob Lees has seen the scheme exploited in the past.

He recalls seeing incidents first-hand where first home buyers using the Home Guarantee Scheme buy a property only to move out of the home, and to still qualify for the guarantee, have placed a friend or family member in the property as a boarder and continued to nominate the property as their primary residence, including their mailing address.

Paying more interest

Economists anticipate the expanded scheme is expected to come at a cost, both to individuals who take the scheme up, and also to the broadening housing system.

“The main cost for individuals is extra interest paid over the life of a loan. The flipside of a 5% deposit on a home purchase is a 95% Loan to Value Ratio on the home loan, ultimately costing the buyer significantly more in interest repayments.

Melbourne-based Mortgage Choice mortgage broker Paul Williams notes that the Home Guarantee Scheme has already also started to have an almost immediate inflationary impact on the already expensive housing market.

Home prices have been on an upwards trajectory for nine months now, with the PropTrack Home Price Index showing values are 6.2% higher than this time last year.

Mr Williams recently helped a Melbourne first home buyer looking for a home loan, who intends to access the Home Guarantee Scheme.

But the buyer is now competing for properties with Sydney investors seeing value in the more subdued Melbourne market and an influx of first home buyers also hoping to access the expanded Home Guarantee Scheme.

The average price of a home in Sydney is currently sitting at $1,213,000, while a home in Melbourne only sets you back an average of $839,000.

“This has resulted in prices being pushed up almost immediately, with vendors previously selling around the $800,000 mark are likely to put a higher price on their property due to their being more buyers in the market,” Mr Williams says.

Despite the higher asking prices, buyers are not being scared off, with expectations of another rate cut in November still strong. 

“Buyers understand the economics of the housing market and are backing themselves and trying to get into the market anyway they can,” Mr Williams says.

Pushing up prices

Rethink Residential director Mina O’Neill believes the scheme is already being unfairly accessed by the wealthy, who are leveraging it by providing deposits in their children’s names.

“What’s intended to improve affordability risks widening inequality, as family wealth accelerates access for some while leaving others behind,” she says. 

“With the cap raised to $1.5 million in Sydney, no limit on places from 1 October, and varying thresholds across states, the scheme is expected to add further fuel to a fast-moving market.”

The unique convergence of falling rates, more stock hitting the market and powerful policy incentives is creating opportunities for buyers, but also fierce competition.

“These schemes are always going to put prices up because you’re increasing demand instead of addressing the supply, they’re trying to just pump up the market,” Ms O’Neill explains.

How it works

Home buyers usually need a deposit of 20% of the value of the property to secure a home loan. Those with a smaller deposit may be required to get Lenders’ Mortgage Insurance.

Under the Home Guarantee Scheme, Housing Australia provides a guarantee to the lender so home buyers only need a 2% or 5% deposit, supporting buyers who have saved a small deposit and meet other eligibility criteria to get a home loan to buy a home.

Couples were previously excluded from the scheme once their combined income surpassed $200,000, while singles had to earn less than $125,000 to qualify. Those caps will be removed.

The scheme will also significantly increase the range of suburbs available to first home buyers around the nation.

Counting the cost 

National home prices are up 6.2% over the past year, adding around $52,000 to the value of the median home, and have surged over 50% in the past five years.

National Australia Bank (NAB) is a lender for the scheme and has extended more than 46,000 home loans to first home buyers under the scheme, proving the scheme is big business for the sector.

NAB executive home ownership Matt Dawson says the initiative is helping address affordability challenges but adds that boosting supply remains critical to easing the housing crisis.

“It’s important that we continue to see more homes built,” he says.

“Improving supply alongside initiatives like the Home Guarantee Scheme is key to addressing the housing challenge in Australia.”

This article first appeared on Mortgage Choice and has been republished with permission.

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