Govt to encourage elderly to downsize homes

The federal government is reportedly planning to encourage older Australians to downsize to smaller homes to help tackle the housing affordability crisis.
News Corp reports the government would introduce new incentives as well as more lenient rules to the Age Pension asset test and the caps on superannuation.
It’s believed the changes would free up more than 50,000 properties a year.
The measures would also ease the penalties on retirees who sell their family homes and encourage them to save the proceeds to move into more practical houses.
The Treasurer has commissioned a Treasury analysis of the number of properties in major cities that are occupied by people in retirement.
But the government insists they will not force older Australians to move house but instead focus on removing disincentives.
Meanwhile, News Corp has also reported that NSW workers in a number of key professions – such as teachers, nurses and police officers – will reportedly be offered cheaper homes in new housing developments.
The state and federal government plan is a bid to address the soaring cost of property in Sydney.
Under the proposal those in the professions will be given the chance to get their hands on premium properties at a knockdown price.
Developers would be allowed to increase the floor space or height of new developments in exchange for providing a percentage of lower-priced housing to these workers.
Treasurer Scott Morrison along with other ministers are developing the idea to improve housing affordability – but will not comment on the package to be included in the May budget.

Source: http://www.skynews.com.au/news/top-stories/2017/03/11/govt-to-encourage-elderly-to-downsize-homes.html

2 Comments Add yours

  1. Lyn says:

    Instead of 8 million people planned for Sydney and Melbourne pushing people out of their communities they have spent their lives raiding families and working why not focus on creating real jobs and manufacturing businesses and food production in regional areas where land is less expensive and all those who want a home and a job can give up the overseas trips and daily coffees to go what Australian used to do . SAVE to be independent of the public purse and live in integrated communities.

    Like

  2. Suzanne O'Connell says:

    Free up houses for whom? The price of houses will still be the same as they are now, so it will be only freeing up more houses for the Chinese to buy. It is not going to change the cost of houses for our young Australians to buy. This Government has no idea about security for housing or food for our people, they are too interested in being see as good old boys by the Chines and don’t realise they are a laughing stock by the rest of the World.

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