Boomers bring surprising changes to tightly packed suburbs – realestate.com.au

Listings from homeowners over the age of 60 who have owned their homes for more than 25 years have increased by 20 per cent across Brisbane in the past year, marking the first signs of movement in some of the city’s densest suburbs.

This shift offsets a decade-long national decline in the number of homes coming onto the market, as tight rental conditions and limited downsizing options keep older homeowners in unsuitable family homes.

Research from Place Advisory shows that a wave of baby boomers are finally handing over the keys to a new generation in popular areas such as Camp Hill, Norman Park and Coorparoo, and mid-ring areas such as Holland Park, where the over-65s population has fallen by up to 10 per cent in five years.

A much-loved trophy home is up for sale through a top offers campaign in Norman Park

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Typical sellers who bought their properties between the 1970s and 1990s collect up to 30 times their original price, with a Brisbane house bought for $25,000 in 1975 now worth almost $900,000.

Older homeowners are taking advantage of buoyant market conditions to go public during the traditional spring selling season, driven by cost-of-living pressures, the burden of larger homes and the desire to free up decades of equity for retirement.

Although the decision to cut back often takes three to four years, policies such as the pension phase-out contribution of up to $300,000 for those over 55 have fueled this trend.

This English cottage style house was designed by renowned Brisbane architect EP Trewern and until now was owned by his own family

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Place Bulimba agent Shannon Gordon said offers in these sought-after areas remained scarce, leading to intense competition between younger families keen to buy in established school areas.

“We are seeing a real generational transfer,” Ms Gordon said.

“The long-term owners who built these communities are finally ready to move on, and that’s creating openings for young families who never thought they could purchase these areas.

“The homes that shaped Brisbane’s character will pass on to the next wave of families who will shape what comes next.”

Despite the shift, family homes remain rare. Nationally, there were only 470,000 homes on the list last financial year – a decrease of 20 percent compared to 2016, despite a population growth of more than four million.

This four-bedroom house in Wishart was under contract before the scheduled auction date

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LJ Hooker’s Australian Listings Report 2025 shows that just 4 percent of the country’s 11.3 million homes were listed in FY25, down 6 percent from a decade ago.

In Brisbane, quotes were about 10 percent below the ten-year average, while regional Queensland fell 15.8 percent short.

The shortage was blamed on a combination of cautious sellers holding on to low-interest loans and a lack of suitable new supply.

“Many homeowners are left stranded due to a lack of suitable alternatives,” the report said.

“A tight rental market and limited downsizing options are freezing turnover.”

In the inner-city hotspot Camp Hill, average house prices have almost doubled in the past five years to $1.76 million, with desperate buyers pushing the price higher.

The Kacins plan to retire to the beach. Photo: Liam Kidston

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It’s a question on the mind of long-time residents Gary and Lesleigh Kacin, who are moving for the first time in 35 years after putting their Queenslander home at 32 City View Rd up for auction.

Ms Kacin, a former teacher, said she was nervous about putting the property up for auction, hoping for an outcome that would allow them to afford a sea-view unit on the southern Gold Coast.

“I’ve never sold a house before, so I’m a little apprehensive, but also excited,” Ms. Kacin said.

“But we’re empty nesters now and it’s time to go to the beach.

“We haven’t found our next home yet, but the plan is that whatever we get here, we’ll splurge on a spot along the coast so we don’t have to dip into our super.”

32 City View Rd, Camp Hill is on the market for the first time in over 30 years

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In nearby Coorparoo, an English cottage-style house designed by esteemed Brisbane architect EP Trewin and owned by his own family since 1931 is also going under the hammer.

Belle Property Coorparoo agent Jonathan Harper-Hill, who is marketing the four-bedroom house at 183 Chatsworth Rd, said his agency is yet to record a significant increase in listings.

“This is a very sentimental sale of a much-loved family home,” Mr Harper-Hill said.

“For many older homeowners, the feeling is that you are in a beautiful house in a fantastic environment, why move?”

The house attracted a lot of interest from buyers who appreciated Trewin’s traditional style. The sale was fueled by the architect’s son, who had lived there all his life and had recently moved into a retirement facility.

PropTrack data shows Kenmore Hills is Queensland’s most populous suburb, with residents staying there for an average of 21 years.

Other sticky suburbs included Yeerongpilly (19 years), Wishart (19 years) and Battery Hill (18 years), while apartment owners in Ferny Grove stayed for 19 years.

PropTrack senior economist Eleanor Creagh at the Future Brisbane event. Photo: John Gass

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PropTrack economist Eleanor Creagh said these long ownership patterns have helped protect the suburbs from price shocks by limiting supply.

“Longer retention periods of 19 to 21 years indicate low turnover, probably in family homes,” Creagh said.

“This could limit supply and keep a floor on prices in attractive, well-located and amenity-rich suburbs where many stay in place longer.”

Over the past 12 months, around 11 per cent of Brisbane suburbs have recorded a decline in the number of people aged over 65, particularly in Holland Park West, Geebung and Cleveland.

In Cleveland and other Redland City suburbs, with an average of more than 8,000 homeowners over the age of 50, listing times have dropped to about 30 days.

The capital freed up by downsizing was often reinvested locally, with many sellers moving into single-storey homes, premium apartments or nearby lifestyle precincts such as Woolloongabba, East Brisbane and the Bay.

It is estimated that if just 10 percent of Queensland’s vacant homes were to downsize, approximately 22,000 homes could return to the market, significantly reducing supply pressure.