As Newmarket Residences nears completion towards the end of 2019, there has been a notable increase in downsizers aged 50 to 70 years carefully considering Cbus Property’s Newmarket Randwick for their next home.
Downsizing can be a daunting prospect – it can be an emotional decision to leave the family home as your life circumstances change. David Chittenden, Director, Colliers International said, “Downsizers research their options thoroughly before committing and take longer to decide on their new home. They'll talk their options through with friends and family. They're more risk-averse and so ask more questions than first home buyers, who typically need guidance rather than reassurance.”
Many downsizers look for the right home in the right place. These days, that’s more likely to mean within their local community where they have existing affiliations with friends, family, businesses and clubs rather than leaving these behind for the once popular sea or tree change. Remaining closer to grandchildren is also a strong influential factor in their decision.
Soon to be a Newmarket Randwick resident, Arthur Ellis is looking forward to joining the growing community.
Currently living in the four bedroom, freestanding South Coogee house he built in 1967, he was drawn to Newmarket’s master-planned neighbourhood filled with generously sized apartments with buildings no more than eight storeys high set within beautifully landscaped surrounds.
“It was time to move on,” Arthur explains. “We were looking for a new property that was close to shopping, restaurants, hospitals and, of course, family. We felt Newmarket delivered the best lifestyle amenities, perfect for our new needs.”
Chittenden added, “Some downsizers will sell and rent until they find the perfect option – they want to know that their new home will be delivered by an experienced capable developer, with a proven track record in delivering high quality projects and whom is financially strong. In addition they also want to ensure the builder has a proven reputation for delivering a high quality product, on time, before making a final commitment to purchase.”
Newmarket’s developer, Cbus Property and the building contractor Ganellen, both have these respective attributes that give downsizers the comfort they need to support their purchase decision.
Newmarket Randwick also offers everything close by for downsizers like Arthur Ellis, including a retail precinct with restaurants and cafés, as well as lots of high-end amenities that provide a myriad of ways for him to enjoy retirement to the fullest.
Newmarket’s colourful racing history and heritage are meaningful to many local downsizers, enhancing its sense of place and offering an address of which they can be proud.
“While we’d updated our family home three times since it was built, it's now far too large for us, and the lawns and gardens are becoming more difficult for us to maintain,” Ellis adds. “Newmarket’s meticulously designed and maintained gardens feature lots of outdoor space for leisurely walks without having to venture too far from home.”
The neighbourhood is conveniently located close to entertainment, parks, beaches, Sydney’s best hospitals and medical centres and easy transport. Residents can explore The Spot in Randwick, Moore Park Entertainment Quarter, Centennial Park, eastern suburbs beaches and head further afield with the new light rail that stops close to Arthur’s doorstep.
“The Cbus Property sales experience was everything we could have hoped,” Ellis says. “Displays and models were simple to comprehend and the Colliers’ staff were helpful in every aspect. The whole process made our downsizing decision all the more relaxed.”