Those looking to buy or sell property in Adelaide may be interested to learn there is currently an increased demand for small, retiree-appropriate properties in suburbs such as Prospect, Mitcham, Golden Grove and Mount Barker.
According to a new report by MacroPlan Dimasi, these areas are attracting more residents over the age of 65 who are looking to downsize their property and move into small, one-level homes.
The Retirement Living Council released a statement shortly after the report was published, expressing concern at the lack of available retiree-appropriate housing.
Executive Director of the council Mary Wood is urging local authorities to consider this shortage when planning for the city's future.
"Including retirement villages in capital city planning provides housing choice and social diversity and allows seniors to stay living in their existing communities and be close to families, friends and support services as our population ages," Ms Wood asserted.
Although Adelaide's ageing population poses many challenges, it also provides opportunities for property investors, especially those who own small units. Now may be a good time to put retiree-appropriate property on the market.