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

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

Archive