Developer North Ridge has a specific homeowner in mind for its subdivision, near Prestons Park and Marshland – downsizers aged 45 and over.
Listing agent Damian Dellabarca from The Change Agents said the over-45 restriction was a first for Christchurch.
There is other age-restricted housing but these are usually found in over-65 retirement villages or over-55 developments.
Elmbridge Mews and another North Ridge project in Styx Mill are the first developments he’s encountered aimed specifically at downsizers.
The two- and three-bedroom properties in Elmbridge Mews, near Prestons Park, are priced between $849,000 and $1.189m.
Dellabarca said North Ridge wasn’t targeting traditional retirees but rather a younger demographic ready to simplify their lifestyle –without moving into a retirement village.
Families are welcome in the subdivision, but a 20-year covenant requires that at least one property owner must be aged 45 or older.
“The needs of a downsizer are completely different from those of a first-home buyer. (Elmbridge Mews) is aimed at meeting the needs of a generation that wants to downsize, but isn’t quite ready for a retirement village,” Dellabarca told OneRoof.
“The whole point is to create a community of people that are at a similar stage in life.”
“I understand the covenant is quite clear and strong, but you don’t know what would happen until someone tries it.”
North Ridge director John Shearer stopped developing townhouses for investors in 2020 and started focusing on homes specifically for downsizers.
Shearer worked with his in-house architect to come up with a new design template.
“We just took all the nice bits in a big house and put them in a small house.”
Shearer told OneRoof the company had added an age restriction to give buyers certainty about the area they were moving into.
“These houses aren’t really designed for young families or younger people. They are designed for older people who want the butler’s pantry and the ensuite and things like that.”
“It’s a new concept. People haven’t really done a downsizer community development like this before. People put age restrictions on properties, but not for the reasons we have done it.”
Even though the age limit is 45 and over, most of those who had bought so far were empty-nesters closer to 55.
“They want to travel a bit more, get into their bowls a bit more, and just have a bit of an easy property to live in.”
Dellabarca told The Star the over-45 development was not discriminatory against younger homebuyers when considering the wider real estate market.
“There are many developments in Christchurch which are focused on appealing to younger first home buyers.
“Elmbridge just provides another option for older buyers. I don’t think a couple dozen homes being limited to over-45s will affect the wider property market.”
