Downsizers

Largest part of that tenant base is people who are downsizers.

Immingham is a close-knit community with a variety of amenities which makes it a desirable choice for families, couples, professionals and downsizers alike.

In seaside areas, bungalow wars can escalate over the scruffiest of properties — if there’s a stunning view, for example — and downsizers may be competing with developers and holiday home buyers.

With most downsizers aiming to stay in the same area, a study by Equity Release and Mortgage Partnership uses data from the Office for National Statistics to identify the best places to downsize even after taking SDLT into account.

The Sydney downsizers moved to Terrigal last year.

For downsizers who need a little more room than a run of the mill unit, the whole-floor Arc penthouse has extra storage space and two dedicated car bays.