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

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

Archive