Elderly struggling for roof over heads

Stamp duty must be abolished to help older Australians buy smaller homes in order to “free-up” the housing market.

A Treasurer’s report released last month, shows government regulations are reportedly inhibiting senior Australians from obtaining housing that suits their needs.

“State and territory government stamp duties discourage relocation to more appropriate housing. These taxes act as a financial disincentive to moving, often doubling the cost of moving house.

“This can result in individuals not relocating to their preferred housing type but continuing to reside in housing that is no longer suited to their lifestyle or physical capacity,” the report reads.

AdelaideNow reports the document is also critical of state planning laws that allow “the development of large, detached houses at the edge of towns and cities” as this type of housing is often reportedly unsuitable for older people as it requires relocation away from “family, friends and other support networks”.

According to the report, issues such as affordability and appropriateness of housing will only become more important in the years ahead and the need for a comprehensive approach to meet this challenge will be required.