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

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

Archive