Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Make Way, Here Come the Cashed-Up Babyboomers; New Expectations Mean a New Wave of Housing

Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Make Way, Here Come the Cashed-Up Babyboomers; New Expectations Mean a New Wave of Housing

Article excerpt

SOUTH-EAST Queensland will continue to be Australia's retirement capital as a rising tide of cashed-up baby boomers drives the growth of lifestyle housing in the region, according to leading demographer Bernard Salt.

In his report, Re-imagining the Great Australian Retirement Lifestyle, Mr Salt said boomers' changing expectations of their retirement lifestyles would influence a new wave of housing for over 50s.

According to the report, financial considerations and greater family obligations are also reshaping how Australians view their later years.

Mr Salt said many older Australians were staying in the workforce for longer and were taking a bigger role in the care of their grandchildren.

"What we are now seeing is the rise of the portfolio stage in the lifecycle. It involves a range of social, family and work commitments," he said.

"It is clear that the period in life between the mid-50s and 70 is increasingly being commandeered by work and/or by childcare.

"I suspect baby boomers moving into this stage of the lifecycle see this arrangement as a positive contribution to the way they want to live.

"It delivers an increased level of financial independence as well as greater social and familial engagement."

Mr Salt said the new reality of the retirement years would generate a cultural impact similar to the baby boomer-driven seachange phenomenon that propelled south-east Queensland in the early 2000s.

"Those same boomers a decade or so later will be looking for a different accommodation product," he said.

"That product is yet to achieve the cultural impact of the seachange shift but, with so many boomers pushing into this stage of the lifestyle, it is surely only a matter of time.

"A range of accommodation options will emerge to meet this market.

"One such need will be self-contained townhouses or lifestyle units in a coastal location in places like south-east Queensland."

Mr Salt acknowledged that south-east Queensland had struggled since the global financial crisis, which diminished the market for holiday housing. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.