Understanding Housing and Location Choices of Retiring Australians in the 'Baby Boom' Generation

The baby boom generation in particular has reshaped the landscape of housing consumption in Australia over the last four decades and will inevitably transform ‘aged housing’ over the next 20 years (Beer et al., 2006: v) The driving inquiry behind this research is the ageing of Australia’s population, the transition out of the workforce of the post-war ‘baby boom’ generation, and the potential impacts this transition could have on Australia’s housing stock. The report comprises four sections: A: This first section provides a brief overview of key trends in the growth of Australia’s ageing population, defines how we are using the term ‘Baby Boomer’, and reflects upon characteristics of this cohort and why, in terms of their current housing positions and future pathways, they are a central concern to the Council’s research agenda. B: Whilst recognising that there are a number of general characteristics that shape our interest in Baby Boomers, our literature review in section B is structured around a typology based upon a series of different housing options and pathways that households may take. The typologies are framed first and foremost in terms of where the balance falls between choice and constraint. Clearly ownership of the home on reaching retirement, and over time issues regarding health, mobility and increased dependency shape those pathways. C: In this section, we further explore these issues and consider wider housing demand and market implications. Although this echoes the pressing need to understand distinct requirements – and through these, distinct housing options, particularly for the very elderly - the case is made that such a focus should not obviate our understanding that the Boomer generation will buy, sell and dwell in the ‘wider’ housing market for an increasingly extended period post-retirement. Similarly their behaviours and preferences will exhibit the ‘inefficiencies’, stickiness and complex balancing act that infuses the housing options and outcomes of other age cohorts. We argue that as much as focusing on how the current housing system meets their needs, we need to understand a lot more about the importance of Boomer decisions on local housing markets. D: A number of areas for further research are identified.