Veritas Land Lease Esates
The Global Housing Reset And Why Land Lease Communities Are Built for It
20/02/2026
Something fundamental has shifted in housing markets across the
developed world. In the United States, Zillow recently acknowledged that homebuyers are moving decisively away from large, status-driven properties toward smaller, more efficient, and more adaptable homes. The industry is framing this as a lifestyle preference. It is not. It is an economic consequence of the end of an artificially inflated cycle and the same forces are reshaping the Australian market.
During the peak years of ultra-low interest rates, excess liquidity encouraged buyers to stretch into oversized layouts, high-maintenance properties, and homes designed to project prosperity. Two-storey foyers, formal dining rooms used once a year, home theatres, and oversized master suites were marketed as essentials. Energy efficiency and long-term carrying costs were afterthoughts.
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That era is over. As mortgage rates, insurance premiums, council rates, maintenance obligations, and utility costs have all structurally reset higher, the psychology of the housing market is changing. Buyers and particularly those approaching or in retirement increasingly see large homes not as assets, but as liabilities.
The Australian Picture Is Even More Acute
Australia's housing affordability challenge is among the most severe in the developed world. Household debt-to-income ratios remain elevated, and the cost of entry into the traditional housing market has become prohibitive for a growing share of the population.
$849K
NATIONAL MEDIAN
DWELLING VALUE
14%
MEDIAN-INCOME HOUSEHOLDS ABLE TO BUY
47%
HOMEOWNERS STRUGGLING
WITH REPAYMENTS
11 yrs
AVERAGE TIME TO
SAVE A DEPOSIT
Regional Queensland has been one of the strongest performing property markets in the country, with values rising 12.6% in 2025 alone. This is positive for existing homeowners but it compounds the affordability challenge for anyone trying to enter or re-enter the market including retirees looking to transition from family home into something more suitable. At the same time, insurance costs are escalating rapidly, particularly in Queensland.
Council rates continue to climb. Maintenance on ageing housing stock becomes more expensive each year. For Australians over 55, the maths of traditional homeownership is increasingly difficult to justify.
"When carrying costs rise across every dimension, insurance, rates, maintenance, utilitiesm, the market doesn’t crash. It recalibrates. Buyers stop chasing size and start demanding value"
The Land Lease Model: Designed for This Market
The over-55s land lease community model directly addresses the structural forces reshaping housing. It separates the dwelling cost from the land cost the single largest driver of unaffordability in Australian housing and replaces the compounding, unpredictable expenses of freehold ownership with a transparent, manageable cost structure.
For the demographic that stands to benefit most, the value proposition is clear.Over-55s Australians sitting on family homes worth $600,000 to $1.5 million in metro or regional markets face a genuine dilemma: maintenance costs are rising, the home is too large, but selling and buying back into the traditional market at current prices often makes no financial sense. A land lease community lets them unlock equity, dramatically reduce ongoing costs, and move into a new, purpose-built, energy-efficient home without the burden of freehold carrying costs.
Cost Comparison: Traditional Home vs. Land Lease Community
Entry Cost
Stamp Duty
Council Rates
Building Insurance
Maintenance
Community Amenities
Energy Efficiency
Traditional Freehold Home
Land Lease Community
Median $500K–$850K+
Significantly lower entry point
Self-funded or none
Unpredictable, owner's burden
$2,500–$5,000+ p.a. (rising)
$8,000–$30,000+
$2,500–$4,500+ p.a.
No stamp duty on home
Varies (often poor in older stock)
Included in site fee
~$2,000 p.a. (new build)
New home, community-managed grounds
Resort-style facilities included
Purpose-built to modern standards
This is not a compromise. It is a structural realignment of housing value one that puts more money back in the hands of the people living in these communities while delivering a higher quality of daily life.
A $12 Billion Sector That’s Still Under-Penetrated
Australia's land lease community sector is now valued at approximately $12 billion, yet penetration remains remarkably low. CBRE estimates that only 1.0% to 1.5% of Australians aged 55 to 85 currently live in a land lease community. In the United States, the equivalent figure is closer to 8%, with over 20 million people living in manufactured and land lease housing.
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The gap represents both the scale of unmet demand and the growth trajectory ahead. Colliers projects annual revenue growth of 5–7% across the sector over the next five years. Major institutional investors including Stockland, Macquarie, and Ingenia have significantly increased their exposure, recognising land lease communities as a resilient asset class with near-100% occupancy rates and compelling yield profiles.
Bundaberg: Ranked 3rd Nationally
A recent Colliers/UDIA report ranked the Bundaberg region third in Australia for land lease community pipeline development, reflecting the convergence of strong population growth, relative affordability, a favourable climate, and a rapidly growing over-55s demographic. Bundaberg Regional Council's population exceeds 104,000 and has been growing at over 2% annually, with retirees and lifestyle-driven migrants a significant component of that growth.
33 On Goodwood: Purpose-Built for the New Reality
33 On Goodwood is a 149-lot land lease community in Bundaberg, Queensland, developed by Veritas Property Group. It is designed from the ground up for the market conditions we are now living in not the market of a decade ago.
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Every element of the community responds to what today's buyers actually need: energy-efficient homes with manageable footprints, transparent and predictable costs, resort-style community amenities, and a location that offers quality of life without the price burden of metropolitan markets.
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The project is positioned to deliver genuine housing affordability for Australians who want to own a quality home without the escalating costs of traditional freehold property. For those transitioning from a family home, it offers the opportunity to unlock equity, reduce financial stress, and live in a community purpose-built for this stage of life.
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For capital partners and operators, 33 On Goodwood sits at the intersection of the most powerful forces in Australian property: a structural affordability crisis, a rapidly growing and underserved demographic, a region with validated development fundamentals, and a housing model that institutional capital is actively pursuing.
The Era of Excess Housing Consumption Is Ending
The shift happening in global housing is not temporary and it is not a trend. It is a permanent recalibration driven by structural economic forces: higher carrying costs, constrained purchasing power, demographic change, and a growing recognition that housing value should be measured by how well it supports your life — not by how much excess space you can finance.
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When buyers begin prioritising resilience, efficiency, and flexibility over sheer size, it signals something important. The market is telling us that the old model no longer works for a growing share of the population.
Land lease communities are not an alternative to the housing market. They are where the housing market is heading. 33 On Goodwood is built on that understanding.