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

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

Archive