Australian Property Investor Magazine
Opinion piece by UDIA WA CEO Tanya Steinbeck.
Downsizers are an important and growing part of the property market in Western Australia and indeed across the country.
We have an aging population combined with a trend toward smaller family units that is having an impact on the size of homes required to suit household needs.
According to the most recent Census data, the median age of people in WA has risen from 25 years in 1971 to 38 years in 2021. The largest proportion of the population by generation are Baby Boomers aged between 55 and 74 years-of-age.
With a growing number of empty nesters and single person households, the requirement for smaller, more compact and easy-care housing options is growing at quite a rapid rate. This is at odds with the predominant housing product we continue to see all across Perth, which is single homes on a green title lot, generally with more than three bedrooms.
To read the piece in full, click here.