Arabic version: يواجه جيل الطفرة السكانية تحديات الإسكان مع انخفاض معدلات الملكية
Retired schoolteacher Sandra Barker, 70, represents a growing number of baby boomers struggling with housing in Australia. According to SBS News, many older Australians are feeling the pressure of rising rents and limited options for affordable accommodation.
Sandra, who has been a lifelong renter, currently resides in a two-bedroom unit in Sydney’s south-west. With her rent consuming over 60% of her fortnightly pension, she is concerned about the future. “I think it’s a bit misleading, actually, to think that every baby boomer is cashed up for retirement; I’m certainly not,” Sandra told Insight. The prospect of increased rent or her landlord selling the property adds to her anxiety about housing stability.
Billie Scott, a 64-year-old Gomeroi woman, shares similar worries as she approaches retirement. Renting a house in Alice Springs with family, Billie is contemplating her options but prefers not to take on a mortgage. “I don’t want to actually buy my own home; I don’t want to take on the financial burden,” Billie said.
Sally, 66, reflects on her past decision to sell her home and return to the UK, which left her unable to re-enter the housing market upon her return to Australia. Currently renting a property in northern NSW for $700 a week, she has opted for a more sustainable living solution by purchasing a tiny home on wheels, allowing her to go off-grid and maintain control over her living situation.
The trend of declining home ownership among older Australians is evident, with a report indicating that the percentage of those aged 65 and over owning their homes without a mortgage has decreased from 79% in 2003-2004 to 74% in 2017-18. Financial adviser Grace Bacon highlights the challenges faced by older renters, particularly women, who often have lower superannuation due to factors like the gender pay gap and caregiving responsibilities. With the increase in rental costs and the risk of homelessness, many older Australians are seeking alternative living arrangements and community-centric housing solutions.
