Stockland has unveiled plans to develop four more of its Halcyon land lease communities across Melbourne and Geelong over the next year.
Stockland has started developing new over 50s lifestyle communities in Clyde in Melbourne’s southeast and in Armstrong Creek in Geelong.
The two new communities will provide around 530 new homes between them and are expected to launch to market mid-2023.
Stockland is also planning to launch new land lease communities in Craigieburn in Melbourne’s north and in Clyde North in Melbourne’s southeast in FY24.
The new communities follow the launch of Stockland’s Berwick community – its first in Victoria.
There are currently 12 Stockland Halcyon communities – either established or in development – across Queensland’s Sunshine Coast, Gold Coast, Moreton Bay, Logan, as well as in Victoria.
In other states, Stockland is progressing projects in the Hills District in Sydney; in Redland in Brisbane’s southern bayside area; and in Providence, south of Ipswich, Queensland.
Richard Rhydderch, Executive General Manager Stockland Halcyon Communities, said as homeowners become more aware of the premium lifestyle available within Stockland Halcyon communities, demand has grown.
“We’ve had a really encouraging start in Victoria and we’re excited to move into this sector at pace,” Rhydderch said.
“We’ve been able to look at the lessons from South East Queensland to create a compelling value proposition for the Victorian market. Many of the Stockland Halcyon communities delivered five to ten years ago were about safety, security, and affordability, but the market has changed. The level of home finishes and facilities buyers want is now 1 Formerly St Germain. Those over 50, particularly baby boomers who can afford it, are demanding a lifestyle that they have earned,” he said.
Australia is undergoing a significant demographic shift, with the baby boomer generation retiring. According to the latest census, there are more than 5 million baby boomers in Australia.
Rhydderch said this generation is demanding a better quality of retirement than what their parents had. Many of this generation are still working, active, social, and focused on health and travel. Community living also has many mental health benefits.
“We’ve strong sales across all our over 50s land lease projects, and 83% for FY24 are unconditionally exchanged,” Rhydderch said.
“This also reflects the strong equity positions of these customers, and lower reliance on the traditional drivers of the broader residential market, including mortgage rates. In addition, the land lease model offers a strong customer value proposition for those looking to downsize, underpinned by relative affordability and the simplicity of the land lease product.”