Australia faces a massive challenge delivering suitable housing for our ageing population.
The country is expected to have nearly 9M over 55s by 2034, that’s just 15 years away.
Over 2400 Australians aged 55 and over, took part in a survey recently conducted by the Australian Housing and Urban Research Institute through focus groups in metropolitan and regional WA, NSW and VIC, including older Indigenous Australians, about their housing aspirations in later life.
It found housing meets the current needs of nine out of 10 older Australians. But only around 70% thought this housing met their longer-term aspirations, so the other 30% would be seeking to move.
Regardless of their current housing tenure, 80% of older Australians want to live in a home they own, no matter the type, size or location which offers security in later life.
So, where do we want to live in retirement?
- Among those aged between 55 and 74, there was a strong aspiration to live in small regional towns.
- Those aged 75 and over were more likely to indicate a preference for the inner suburbs of a capital city.
- Few older Australians wanted to live in the CBD of a capital city.
- And apparently size matters, with 50% of older Australians wanted to live in a house with three bedrooms.