Housing market not fulfilling long-term needs for older Australians
Research has found current housing meets the short-term needs for over 90 per cent of older Australians, but only 70 per cent for longer-term needs.
The study ‘Older Australians and the housing aspirations gap’, explored the housing aspirations of Australians over the age of 55 to support government policy making.
It was undertaken by the Australian Housing and Urban Research Institute (AHURI) with researchers form Curtin University and Swinburne University of Technology, studying 2,400 older Australians across the country.
Other key findings included an “aspiration gap” between renters in the private and social housing sectors, where there is demand for greater diversity in housing options, particularly in regional towns.
Owning a three-bedroom separate dwelling in the middle/outer suburbs of a capital city had the highest demand.
The report showed a preference for 55-74 year-olds to live in a regional town, then move to the inner suburbs of a capital city at 75.
Dr Amity James, lead author of the study from Curtin University, said aspirations were underpinned by a desire for long-term stable housing.
“Around 80 per cent of older Australians surveyed reported a preference for home ownership, this is a cause for concern given homes ownership rates are falling fast within younger generations,” James said.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.