Earlier this year, Downsizer published the inaugural Downsizer Download, a deep dive into the demographics changing the destiny of Australia’s residential property industry.
There were plenty of good reasons why the downsizing trend was gaining pace, Downsizer’s managing director, Mark Macduffie, said.
“For starters, you can reduce your house and garden maintenance, release equity to top up your super and upsize your lifestyle for luxury and convenience,” he said.
Most of the 1.72 million Australian households planning to downsize in the next five years are actually planning to make that home transition in the next 6-36 months.
“Downsizers like the lifestyle benefits of new-build dwellings. They also really appreciate the extra settlement time when buying off-the-plan because it gives them more time to manage their important home transition,” Macduffie said.
Downsizers are most definitely not your average buyer. In fact, for developers selling off the plan, downsizers are a dream buyer.
Downsizers are high-intent, asset-rich, low-risk purchasers.
Even better—when settlement day comes, having sold their empty nest, downsizers are usually cashed-up mortgage-free buyers who are insensitive to the affordability vagaries of interest rate hikes.
They just have one problem … how to afford to put down the deposit to exchange contracts without raiding their savings or their superannuation?
Thankfully, that’s exactly the problem that Downsizer has solved in partnership with Deposit Power to offer an innovative cashless Downsizer Deposit Bond.
It’s a unique financial instrument created bespoke for the downsizer demographic.
Being backed by existing home equity, not debt-servicing analysis, pre-qualification is easy and instant on the Downsizer.com website in just a few clicks.
“There are very meaningful lifestyle and financial benefits to downsizing. We’re helping a whole generation to stop worrying and start living,” Macduffie said.
The Downsizer Deposit Bond is available for owner-occupiers and investors, including SMSFs.
For an Australian property developer wanting to include this lucrative downsizing cohort in their go-to-market plans, Downsizer is a perfect partner.
“We have a database of demand. We have a trusted relationship with the buyer. We already know where our downsizers want to buy, how much they want to spend, and when they plan to move,” Macduffie said.
“We even have a discounted national conveyancing package fully up to speed.
“Plus, we have a searchable online marketplace where we list our developers’ properties and our real-time dashboard complements your sales funnel,” Macduffie said.
Some of Australia’s most respected property developers are already partnering with Downsizer, such as Geocon, HELM, Kincrest, Lucent, M Property, Parcel Property and St Trinity.
Sharing why HELM has chosen to partner with Downsizer, HELM’s chief executive Mark Monk said: “In total, 97 per cent of all sales our company has achieved over the past 11 years are to downsizers, who are typically asset rich, but cash poor.
“For this reason, we believe the Downsizer Deposit Bond will be perfect for our downsizing purchasers.”
Downsizer is keen to onboard more property developers on to their award-winning proptech platform.
Read Downsizer Download.
Main image: Oak on High, 69 High Street, Preston VIC by M Property
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