Generation Y and Housing Affordability

Monday, October 24, 2016


As Australia’s leading social researchers, the senior research team at McCrindle are actively involved in media commentary. Last week our Principal, Mark McCrindle and Team Leader of Communications, Ashley McKenzie were featured in the media about Generation Y and their ability to access the housing market in Sydney.

Generation Y are today’s 22 – 36 year olds, and make up 22% of the Australian population (5.22 million). They also make up the largest cohort in the current workforce (34%). Gen Y’s are comprised of today’s parents, senior leaders, influencers, and increasingly wealth accumulators. With 1 in 3 being university educated (compared to 1 in 5 Baby Boomers), they have grown up in shifting times and are digital in nature, global in outlook and are living in accelerated demographic times.

While Generation Y are often accused of living a lavish lifestyle, which supposedly locks them out of the property market, it is important to remember that traditional expense categories such as food, transport, health and housing costs are higher for younger people today than that experienced by their parents at the same age. A generation ago the average house price was 5 times annual average earnings while today the average house price is 13 times the average annual full-time earnings.

Here is a quick snapshot of last week’s media coverage:


Housing Affordability Debate

"From the Baby Boomer perspective, they worked hard, they earned what they had but I can also see the Gen Y perspective. The reality is that it's a lot harder to buy a home, the costs have gone up. Gen Y do have to pay off the debt of their degree and there are new categories of spend; technology, internet and phone, costs that their parents didn’t have."  


Parental help becoming essential for young people trying to buy property

"Ms McKenzie, who works for social researcher Mark McCrindle, said borrowing from parents was becoming Sydney’s “new normal”. “Baby Boomers control about 50 per cent of the nation’s wealth so it makes sense young people look to their parents for help,” she said." 












For any media enquiries please email us at info@mccrindle.com.au, or call our offices on +61 2 8824 3422. To arrange a media interview or if you are a journalist and would like to receive our media updates, please email kim@mccrindle.com.au.

Welcome to our blog...

We have a passion for research that tells a story, that can be presented visually, that brings about change and improves organisations. And we hope these resources help you know the times.

Our Social Media Sites

Facebook | McCrindle Research Social Media YouTube | McCrindle Research Social Media Twitter | McCrindle Research Social Media Flickr | McCrindle Research Social Media Pinterest | McCrindle Research Social Media Google Plus | McCrindle Research Social Media LinkedIn | McCrindle Research Social Media Mark McCrindle Slideshare


Last 150 Articles


Tags

wealth distribution culture optus 1975 cultural diversity easy rider product Financial Planning Association resource going out ideas micro apartments ACT Report global generations census results Christmas in Australia Caregiver money case study NFP event leadership workshop gig brisbane average Australian society trends Queensland: QLD ipswich national private wealth showreel ACF 2016 Christmas day weather retirement gen alpha australian community trends report Hunter Valley cooking mccrindle research clothing language christmas 2017 Business analysis financial planning conference trends of 2017 lifestyle divorce rate digital economy growth of sydney business performance aged care puzzle criminal Bathburst education sector jobs NBRS Architecture Charlotte Territory social commentator rule keeper emerging generations Adelaide teleworking Australian community trends states friendship Canberra Births priorities unaffordable university office stats mythbusters CBD earnings population Christmas presents charity university degree recap 2013 relevant interactive Christmas season not for profit research transport learn Australian demographics economy collaboration speakers pack professional development Research Executive Deaths owning a home politics business Merry Christmas hopes Love investment plans Sydney workforce sydney market speakers crows nest Kiwi communications work mates property market Australia Day princess charlotte budget litter financial future office opening urban living index Sydney’s south west megatrends social shifts trends of 2016 prince george Generation X coffee lovers SA mother's day the changing face of state the hills workplace culture cost of living snapshot personalities wolloomooloo ease of travel earning NT earn ageing results world youth day volunteering proactive optus my business awards public speaker baby name youth Word Up suburb education future report Australian Census anzac internships slideshare 2017 trades poker master suburban living children McCrindle Speaker customer EFF local community social change ultimo responsive high density apartments urban development rise of local communicate Black Friday in Australia wealth PSI report social analyst father's day low density cash Mark McCrindle in the media FOMO ABS financial trends mccrinlde Sydney population home owner January 26th divorce growth keynote speaker monarchy environment leader analysis internet ACF Andrew Duffin shopping centre outsourcing Financial Planning Week teaching residents global financial crisis global retail demographic transformations social life victoria ethnography food insecurity volunteers professional services conference speaker social researcher Channel Seven population growth food bank work winter hills Skilling housing mccrindle tea Tasmania consumer weather staff focus group young people domestic hills shire Mount Annan-Currant Hill challenge emerging trends future-proof mateship sports Australian schools finance experience offenders stay home real donation financial fears students life the lucky country capital city ACF2017 Macquarie University investor workshop Sydney Hills Business Chamber generations focus groups eliane impact long weekend follow motivate australian communities forum water friends TEDx sun employers christmas trees REIV National Conference national crime rates shopper's pick Elderslie-Harrington park What is food insecurity? millenials sector wide study emerging technologies Australian Families optimistic community event happy holidays social impact urban house entrepreneurs of today Sydney Lifestyle Study skills marketing purpose 2020 dreaming faux-ciliser geomapping media activity wages vegetarian global infographic mover and shaker social commentary nfp 2014 winter blues public transport potts point sunny days generation Z cica resilience presentations medicine schools social media know the times New South Wales CPI generation alpha Australian Population relational award winner tableau economic grandparents Christmas lunch breakfast GPO celebration affordability sentiments logan high density housing affordability google future proof wedding February 16 pharmacies Valentine’s Day teach change weekly earnings village commuters property mythbusting Education Future Forum repayments property price 1980 Gen Y Royals year 7 The ABC of XYZ increasing densification supply and demand census 2016 vegemite group session sydney event housing market engage post rationalism future proofing social census data Black Friday Sales balance professional city Generation Y faux-cilising participants demographer train JOMO goals waverton rental stress affordable tertiary education rising house prices deloitte McCrindle Speakers 2016 census results who is generation z media commentary the hills shire qualitative research TED IT Specialists cold commute apartment schools students fresh news social issues communication religion summer define property development choice workers australian social research 2016 census men baby names typical australian ferry buildings list child care publication Social Trend financial independence survey design employment student Hornsby Shire Council cars collaborative mccrindle Lower Hunter Region urban living land of the middle class social enquiry Sydney keynote speaker builders James Ward urban taskforce sector wide cloudy days brand experience TED talk house price bureau aussie culture socialising wage staying in church Lower Hunter mobile mortgage Jura Australia wealth inequality gold coast presentation salary generational trends not-for-profit gen z education Population Clock faith trends analyst future of shopping Retail engagement curiosity hobart meals travel daily telegraph wealth and income NSW keynote volunteering data Western Australia the australian dream Real Estate Institute of Victoria social trends social lives research on coffee newspaper belief giving study entrepreneur annual income christianity public speaking business index Do It Yourself World Water Day overcast cancelling event entrepreneurial REIV Conference social research darwin 2012 1968 career ageing population lalor park Northern beaches Event manly work from home small business charities Australian communities event 23 million younger generations professional speaker forecasting woolworths jobs of the future Res Vis ashley fell Wodonga social researchers paying to work organisational culture Australia street FPA baby name trends commuting names leadership cancel plans happiness households baby survey debate mccrindle in the media fears media release Scouts public holiday society data panel dreams story TAS government group demographic australia Financial Planning Association of Australia Christmas research millennials hornsby omnibus nativity scene ACT narcissism financial dreams sydneysiders ashley mckenzie 24,000,000 huffington post education future couple SMART VET sector sector living Gen Z Expert 2015 in the media teacher futurist world holiday pharmacy 24 million shopping Australian Communities Trends cost conference presentation tattoos researcher census research data the great screenage sydney speaker demographic trends learner office space cancelling plans speajer in depth interviews australian generation research pack australians staying home more Myth daily commute parenting kate middleton trend tuesday spend blaxland workplace McCrindle Keynote Speakers NBRS intern The Daily Edition Performance Sentiment Index unemployment school students Christmas Stats communities casual toys work-life tips storytelling Vocational education educated sydney metro future entertainment norwest TDE etiquette future of education moderators guide technology coffee changing face of sydney SRE goal consumerism youth unemployment census fail suburbs Australian Home data visualisation research visualisation Wellington contiki chairty careers gig economy gender non profit house prices Australian Bureau of Statistics statistics income System's Architect baby boom royal acf15 neutral bay educhat screenage population milestone training renter of the future Research Director travelling events research education research video apartments 10 years thrive area market research wellbeing tuesday home not for profit baby name predictions year 12 rich hunger digital school satisfaction Aussie baby boomers bondi professional presenters renting pyrmont car Willowdale dream insight sydney hills Black Friday eliane miles national wealth middle class hello fresh parents twentyseventeen sydneycity insights live the dream social analysis Maxim Accounting brand forum moreton bay holidays Australian Dream Work place marrickville sydneysider Gen X equip meetings Australians micro sunburnt country safe family energy average aussie sydney property market mentor Northern Territory 2016 women Real Estate Tuesday Trends visualisation debt Mark McCrindle sustainable christmas royal influence South Australia Northern Beaches Christian School crime click food Australia Day 2017 environmental scanning quote conferences young australians townhouses shbc learning styles 1994 local cartodb bus DESTEL employmee community authenticity culturally diverse poor program Cobbitty-Leppington royal baby VET online shopping population map demographics Melbourne home ownership household baby names australia report DIY visual US internship Tuesday Trend average sydneysider Netflix socialites tv Christchurch tea royal family learning Duchess of Cambridge seasons greetings VIC easter new office award growing population Christmas data Jura Coffee alpha millionth organisations research report online baby names report #censusfail housing trends housing growth WA healthy future dare to dream Assistant Store Manager "know the times" local communities innovation shifts graphs Hills Shire Council wealth and income distribution Channel 7 Engineering Manager teachers australian communities trends report high density living seasons cultural diveristy marriages Northern Beaches 40 million dessert Kirsten Brewer demography community engagement donate New Zeland Wagga Wagga innovative capital cities school forecast media spirituality Christmas day brands infographics Australian Trends Aussies volunteer high school speaker greatness ACF17 christian grave decision research services google for education thought leadership English rain rent families aged care future of work personal growth investing Geoff Brailey selfie employmer McCridle infographic wall new york times perth facts Queensland NEETs faux-cilise HSC TEDx Speaker marriage australian real estate menai mining boom networking care support data analyst trend Crime Rates SMSF New Zealand house price rise identity the average aussie screenagers

Archive