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

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

Archive