Brighter And some

A survey of #17,000 Aussies shows kids are living at home longer

by Kate Watt, Marketing Manager 22 August 2019

You’ve heard of 7up the soft drink, but have you heard of Britain’s Seven Up! documentary series? It follows the lives of 14 people it first met when they were seven. In the latest instalment they’re aged 63. So what???

In the past week, news media has been reporting on Australia’s Seven Up! equivalent, the HILDA survey, which follows the lives of the same 17,000 Australians, surveying them annually on various social and economic aspects of their lives.
It is a social researcher’s dream, and this year it has confirmed some trends we’ve seen in the census data last year.
Perhaps not surprisingly, a key survey finding revealed that Aussie kids are living at home longer.
Between 2002 and 2014, home ownership among young couples aged 18 to 39 years with children fell 17 percentage points, while childless young couples saw home ownership rates drop 12 points, reports
The survey showed 60 per cent of men aged 22-25 years were living at home in 2015, as were 48 per cent of women, compared to 43 per cent and 27 per cent respectively in 2001.
Those on the property ladder were taking out bigger mortgages with the average mortgage debt for 18 to 39 year olds sitting at $336,586 compared to $169,201 in real terms 12 years earlier.
Professor Roger Wilkins, editor of the HILDA report, said one way the government could help home ownership rates for young people was to reduce the capital gains discount.
Can you afford to fly the nest? Brisbane is amongst Australia’s most affordable capital cities. Contact us for a chat.