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Real estate leaders have said easing transaction costs for over-60s could free up high-demand housing and drive more efficient market turnover.
A leading real estate body has renewed calls for targeted stamp duty concessions for older Australians, as new data reveals a growing cohort of home owners are downsizing amid worsening financial conditions.
The Real Estate Buyers Agents Association of Australia (REBAA) has urged governments to provide stamp duty relief for over-60s seeking to transition into lower-maintenance, more affordable housing, warning that high transaction costs are a significant deterrent.
The call comes as new research from Finder found that 6 per cent of Australians downsized over the past 12 months.
Most downsizers are looking for low-maintenance, single-level brick and tile homes, REBAA acting president Zoran Solano said.
“While some states offer concessions for pensioners, the thresholds are outdated and don’t reflect current market price points,” Solano added.
“It’s unfair that someone in their 70s pays the same transfer duty as a 30-year-old.
“We need targeted reform. Offering stamp duty concessions on properties up to $1 million for Australians over 60 would make a real difference.”
According to REBAA, removing these barriers would also help free up larger properties for growing families, easing pressure in tight housing markets.
“Unlocking larger homes for younger families while helping older Australians live more comfortably is a win-win,” he said.
“But without meaningful policy support, too many are stuck in homes that no longer suit their needs.”
The push for reform comes as financial stress continues to climb nationwide. The number of Australians at risk of defaulting on their credit obligations has risen by 3.8 per cent since the beginning of the year, according to the June 2025 edition of illion’s Consumer Stress Barometer.
The report found renters, young families, and low-income households were disproportionately impacted by deteriorating conditions, with credit card delinquency among 25- to 29-year-olds spiking 8 per cent since January.
Compounding the strain, household savings have fallen by 4.5 per cent this year, while rental prices have surged 6.8 per cent. With inflation remaining stubbornly high and wage growth failing to keep pace, pressure on household budgets is expected to intensify.
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