Baby Boomers or Rightsizers?

With the Baby Boomer demographic driving much of current demand I would like to take a closer look at how this impacts the property sector across South East Queensland. 

This buyer segment makes up a large percentage of sales across our boutique project portfolio.

They also represent one of the key drivers in current demand further supporting all core fundamentals resulting from 20 year high migration, constrained supply, low interest and vacancy rates in South East Queensland.

In general, Baby Boomers look to free up equity in their home to start enjoying the "reward" stage of their life.

They can be resolute and demanding with a view to zero compromise. 

Adding to this, they expect to spend approximately 80% of their current home value in a luxury new apartment, definitely no stairs, remain close to their friends, family and have easy access to lifestyle amenity, hospitals, transport, cultural and dining precincts. 

Now historically, with the sale of the family home representing their Principal Place of Residence they have been able to achieve a financial credit; however, more recently and due to the market and progression of today's market they are finding that they require a 100% contribution from this sale.

Many are therefore looking to purchase Off the Plan taking advantage of an increase in an estimated increase in value over time, providing balance and structure to long term goals and enabling them to tick all the boxes with reference to the next phase of life.

Through current experience we are finding current Baby Boomers we are exposed too do not tend to represent the traditional Downsizer model.

At Mosaic we like to refer to this demographic as 'Rightsizers'.

A Rightsizer persona looks for an overall experience that makes them feel good about heading into this new phase of life.

It doesn't have to be scary or even negative but simply an opportunity to re-set, refresh and make new beginnings:

• They prefer elegant, boutique projects;
• Aspect is important;
• Desire high-end living close to lifestyle and cultural precincts;
• Have an affinity for luxury and quality;
• Looking to refresh and declutter;
• Aspire to travel and recreational pursuits;
• Demand the very best in design features and product;
• Have a clear view of floorplans, size and functionality.

In some cases, we are also starting to find their investment strategy combines part-time utilisation between city and beach.

They are open to executive leasing packages and want fresh, new and above all premium location.

As a result of this the business has evolved to meet this new demand via Mosaic Bespoke Living. 

Here is what our valued Rightsizer community have to say: