With dual incomes close to $200,000 in some cases, these DINKs (double-income-no-kids) are prepared to pay a premium for location and are turning some areas into virtual child-free zones, reports news.com.au.
Teneriffe, perhaps not surprisingly, has the highest concentration of DINKs with 17.3 per cent of its residents earning two full-time wages with no dependents. The typical Teneriffe DINK couple earns $198,654. That’s even higher than the top earning DINKs in Sydney’s Erskinville who take home $198,177.
So what’s the median house price in Teneriffe? That would be $2.51 million. Enough said.
Teneriffe is not alone in the DINK effect with several other inner Brisbane suburbs also sporting an above-average percentage of child-free couples. These suburbs have more than one-in-ten DINK households:
- Fortitude Valley
So will the DINK dynamic create a property price divide between the kid-free and kid-friendly suburbs?
Maybe, but biology will limit the effect.
“Rising house prices just means that being a bit more financially stable and secure before the dependants come along is happening a lot later in life,” said social demographer Mark McCrindle.
“You end up with a longer period of double income and no kids and demographically, there are more people in this category than ever before.
“But it’s not a trend that can keep being pushed back because of the biological limits.”