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|Moving, downsizing and housing equity consumption choices of older Australians (report)||2.8 MB|
|Moving, downsizing and housing equity consumption choices of older Australians (executive summary)||1.62 MB|
|Moving, downsizing and housing equity consumption choices of older Australians (policy evidence summary)||129.09 KB|
This study analyses current geographic mobility and downsizing behaviours among Australians aged over 55, and considers the barriers to, and consequences of downsizing. Retired Australians tend to retain high levels of housing wealth (rising to 49% of assets for homeowners aged 75+) and most choose not to downsize, either by moving to a smaller dwelling or a less-expensive home.
The Australian population is ageing, and this presents both challenges and opportunities for Australian policy-makers. The key challenge is that there are likely to be increasing fiscal demands from an older demographic for services such as long-term care and programs such as the Age Pension (AP). On the other hand, there are opportunities to meet this challenge. The opportunities are made available via the high rates of home ownership and related high levels of housing wealth of older Australians.
This accumulated wealth provides governments and individuals with the means to maintain appropriate levels of consumption throughout retirement, thus minimising reliance on government support. By implementing appropriate policy development, governments can assist older Australians to make geographic mobility and downsizing decisions that ensure they are housed appropriately, according to their needs and circumstances, as they age.
This study analyses current geographic mobility and downsizing behaviours among Australians aged over 55.
Key findings include: