Rightsizing focus in budget submission
Policies that recognise the value of ‘rightsizing’ and increase awareness of housing options for senior Australians is a focus of the Property Council’s 2018 federal pre-budget submission.
It is critical that Australia has the policies and programs in place not only to ensure the health and wellbeing of elderly Australians, but to assist people as they plan the transition into the final stages of life. A critical element of this is to ensure that ageing Australians have clear information about, and ready access to, appropriate housing and accommodation for their particular circumstances and needs.
As part of our pre-budget submission, the Property Council recommends the development of a whole of Government Ageing Transition Strategy, as part of the Government’s broader Seniors Policy.
A whole of Government Ageing Transition Strategy should include the following key elements:
- Recognise the value of rightsizing, through the undertaking of a seniors housing supply study to investigate and make recommendations on supply and demand issues for purpose-built and managed housing options for older Australians.
- Improve awareness of seniors housing options, through a formal education campaign to better inform people of what options are available for them.
- Ensure clear and expert advice is available to seniors, by working with industry, law societies and consumer organisations to fund and develop an online training course for lawyers and financial advisers.
- Provide financial certainty to rightsize, with policies such as enabling people to better unlock their home equity.
Full information can be found in the 2018-19 Property Council Pre-Budget Submission.