Downsizers Home In On Stanley’s Oakdene And Yarra Quays

Oakdene’s leafy streets and the waterfront towers of Yarra Quays have emerged as Stanley’s go-to postcodes for downsizers in 2026, with agents reporting a surge in demand for low-maintenance homes close to cafes, green space and medical services.

The movement is reshaping property patterns across the city. In the past 12 months, data from Stanley Property Analytics shows established family homes in the suburbs of Larch Street and Westgate are increasingly hitting the market, as their owners trade up decades of garden work for streamlined apartments with lifts and concierge services. This shift comes as local health advocates and planning authorities flag the economic and social benefits of keeping older residents connected to their neighbourhoods with attractive housing alternatives.

Oakdene and Yarra Quays Lead the Pack

On Oakdene’s central corridor, Springwell Avenue, Stanley Realty has counted more than 20 sales to downsizers since January, predominantly two-bedroom apartments within metres of the Oakdene Community Club and Stanley East Medical Centre. The recently completed Acacia Residences at 45-53 Springwell Avenue reached over 90% occupancy in just four months, with a majority of buyers aged 60 or above. Local agents say many residents are moving from larger homes on Hillcrest Lane and the broader Maytree district, keen to stay near long-time friends and the bustling Oakdene Saturday Market.

Yarra Quays, a transformed brownfield district, has become a magnet for retirees seeking city views and harbourside walks. Waterfront apartments at The Anchorage, a Miravista Group development, sold at an average price of $1.13 million between March and June, according to Stanley Land Registry figures. Interest has also spiked in new-build one- and two-bed flats at the Yarra Quays Promenade, particularly among couples selling detached homes in The Mews and Riverton, both a short drive from the quay.

Numbers Reflect Growing Demand

Stanley Property Analytics tallied a 27% increase in apartment purchases by over-55s for the first half of 2026 compared to the same period last year. Median apartment prices in Oakdene have risen to $826,000 as of May, up from $732,000 twelve months prior. Meanwhile, turnover in detached homes in Hillcrest Lane has fallen five percent, reflecting fewer young families entering the area as downsizers clear out and upsize in the city core. Local branches of HomeAssist Stanley report inquiries for accessible adaptations in new apartments have nearly doubled since 2024.

Looking ahead, Stanley City Council’s Housing Diversity Plan, first outlined in 2023, sets a target for 1,800 new accessible homes in core neighbourhoods like Oakdene by 2028. For those contemplating a move, agents recommend registering interest early in sought-after developments and checking eligibility for the council’s downsizer stamp duty rebate, which reopened for applications in February and applies to properties under $1.25 million. As more retirees choose to stay local, the transformation of Stanley’s inner suburbs seems set to continue through the decade.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.