Invest
Surprising new housing trends spike with older Australians
It’s not just first home buyers who are feeling the pinch with housing affordability, older Australians are also changing their living arrangements to deal with the rising cost of owning a home.
Surprising new housing trends spike with older Australians
It’s not just first home buyers who are feeling the pinch with housing affordability, older Australians are also changing their living arrangements to deal with the rising cost of owning a home.
Professor Heather Macdonald from the University of Technology Sydney said the instances of older Australians in co-living arrangements is on the rise, in response to the rising cost of housing in Australia’s capital cities.
The concept of co-living amongst older Australians isn’t new globally, with many foreign countries using it as a way to deal with an ageing population.
Countries such as Japan and Finland have used it as a way to cope with lack of government resources to fund caring for the elderly. In Finland, the system operates to benefit both parties: young people are offered cheap rent also.
“I think there is real potential for co-living when there is social basis for relationships. Interesting examples coming out of Scandinavia with elderly people, where co-living has become an alternative to the more commercialised assisted living. So co-living has some good potential there, with of course studies, and young adults have been doing it for ages with various degrees of success,” said Professor Macdonald.
Mark Steinert, managing director and CEO of Stocklands, added: “Co-living is really exciting; it is an area with customer demand. The biggest challenge as usual being planning; it’s very difficult to get approval for mixed use.”
The Australian government has initiated programs that have a share-housing basis. For example, there is the Better Together program, which helps single women over the age of 55 find shared accommodation. In NSW, icare gives foundation funding to help the elderly and disabled people find youth support in return for cheaper rent.
About the author
About the author
Property
Are we nearing another property boom?
There’s a secret to knowing when the property cycle will take its next turn, and it's not as far away as some may think, according to a property expert. ...Read more
Property
Hot Property: Biggest headlines this week
Based off anecdotal accounts, the property industry is gearing up for a strong spring season: Here are the biggest property stories from this week. ...Read more
Property
Ace a rental application in 5 simple steps
In many areas across Australia, the rental market is becoming increasingly competitive, so how do you ensure your application will stand out? ...Read more
Property
Population falls could see Australia with 232,000 vacant dwellings
The shutdown of international borders could cut demand for Australian housing by as much as 232,000 dwellings over the next three years, according to research. ...Read more
Property
How will border closures impact the property market?
Despite falling migration levels, property prices might not be impacted as much as investors think, an industry expert has explained. ...Read more
Property
Sydney, Brisbane, Melbourne tipped to surge: Westpac
One of Australia’s largest banks is forecasting strong growth in the housing market as low interest rates and availability of credit pushes prices up, despite the country being in its first recessio...Read more
Property
Is now the right time to make a tree or sea change?
The experience of isolating in our homes and suburbs has made many people reconsider what they actually value in a home, writes David Hancock. ...Read more
Property
Hot Property: Biggest headlines this week
Victoria’s COVID-19 restrictions have begun to lift as the rest of the country watches on: Here are the biggest property stories from this week. ...Read more
Property
Are we nearing another property boom?
There’s a secret to knowing when the property cycle will take its next turn, and it's not as far away as some may think, according to a property expert. ...Read more
Property
Hot Property: Biggest headlines this week
Based off anecdotal accounts, the property industry is gearing up for a strong spring season: Here are the biggest property stories from this week. ...Read more
Property
Ace a rental application in 5 simple steps
In many areas across Australia, the rental market is becoming increasingly competitive, so how do you ensure your application will stand out? ...Read more
Property
Population falls could see Australia with 232,000 vacant dwellings
The shutdown of international borders could cut demand for Australian housing by as much as 232,000 dwellings over the next three years, according to research. ...Read more
Property
How will border closures impact the property market?
Despite falling migration levels, property prices might not be impacted as much as investors think, an industry expert has explained. ...Read more
Property
Sydney, Brisbane, Melbourne tipped to surge: Westpac
One of Australia’s largest banks is forecasting strong growth in the housing market as low interest rates and availability of credit pushes prices up, despite the country being in its first recessio...Read more
Property
Is now the right time to make a tree or sea change?
The experience of isolating in our homes and suburbs has made many people reconsider what they actually value in a home, writes David Hancock. ...Read more
Property
Hot Property: Biggest headlines this week
Victoria’s COVID-19 restrictions have begun to lift as the rest of the country watches on: Here are the biggest property stories from this week. ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
