Chair of the Residential Land Lease Alliance, and Founder of Lifestyle Communities, James Kelly said the grant, available on new contracts from 4 June, will stimulate new housing sales in land lease communities.
Under the LLC model, new residents in new communities order their own home to be built on land that they rent from the operator.
He says downsizing will also free up equity for older Australians to spend through the economy, while also assisting housing stocks of established homes in the suburbs for families looking to get into the housing market.
“The market has been somewhat subdued with the uncertainty of the COVID-19 crisis, but today’s announcement, along with the strict hygiene and social distancing procedures of the industry, will provide confidence for Australians to jump into land lease community living.”
