The Property Tribune
The results of the 2021 Census highlighted a ‘changing of the guard’ in terms of generational divide across Australia with the number of Millennials catching up to the number of Baby Boomers. As this percentage change will only swing more heavily in favour of the younger generations in future Census results, it is important to understand younger generations housing needs now and into the future.
While Millennials are currently trying and in many cases struggling to enter the housing market for the first time, it is the younger Gen Z and Gen Alphas that will be the next first home-owners looking to tackle the market.
In analysing the results of the 2021 census Dr Liz Allen, Demographer at the Centre for Social Research & Methods, The Australian National University said that more Australians have given up on homeownership, not because it’s something no longer wanted but because it is unrealistic and unattainable for too many.
To read this article in full, click here. This article was originally published in the #3 2022 edition of UDIA WA’s The Urbanist magazine. To read this edition in full, click here.