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Downsizers slowly taking the bait but complications abound

When it comes to the issue of downsizing from a larger property to a smaller one, the economy is doing what the government had previously been unable to initiate.

Interior of modern lounge room with view through open French doors to ocean in background
Around 8 per cent of Australians are planning to downsize to a smaller property in the next 12 months.

When it comes to the issue of downsizing from a larger property to a smaller one, the economy is doing what the government had previously been unable to encourage.

With the cost of living soaring and house prices having boomed over the past few years, many households, especially in the older demographic, find themselves ‘house rich’ but ‘cash poor.’

A growing number of Australians are planning to downsize their homes, with some hoping to access…