Rental market: older renters in Australia

Older renters in Australia

In Australia, one post describes older people who rent rather than own a home of their own. It says more of them are reaching retirement without home ownership, a departure from what it calls historic norms. In the post's account, that leaves a growing group facing housing insecurity, in a private rental market it calls "structurally ill-equipped" for long-term needs.

The post cites an estimate that by 2031, 440,000 older households will not be able to find housing that is suitable or affordable. It also says retired private renters spend 45% to 65% of their income on housing, which it describes as far above accepted affordability thresholds. The post adds that unaffordable or unstable housing has a significant effect on older people's access to aged care.

In Australia, one post describes older people who rent rather than own a home of their own.

Questions people ask

What does the rental market look like for older Australians?: One post says more older people in Australia are reaching retirement without owning a home. It describes a private rental market that it calls "structurally ill-equipped" for long-term needs.
How much of their income do retired private renters spend on housing?: The post puts the figure at 45% to 65% of income, which it says is far above accepted affordability thresholds.
How many older households will lack suitable or affordable housing by 2031?: The post cites an estimate that 440,000 older households will lack suitable or affordable housing by 2031.
Does renting privately affect older people's access to aged care?: The post says that unaffordable or unstable housing has a significant effect on older people's access to aged care.

Sources

Housing at the Edge: Retiring Australians in the Private Rental Market - Shelter (National)