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

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

Archive