A new report from the Australian Population Institute suggests that the supply of family homes in middle Melbourne is dwindling, as a result of the baby boomer generation choosing to stay in their homes instead of downsizing. The data found that almost 60 percent of freestanding houses in Melbourne’s middle suburbs are occupied by Australians over the age of 50 who are unlikely to move until they are 75 or older.
The report also stated that this meant there is currently inadequate housing for young families after large homes in the middle ring areas. However, hockingstuart’s own data shows a somewhat different trend – this weekend, almost 50 percent of our homes going under the hammer are in the middle circle and have at least two bedrooms.
There’s also plenty of housing options for families just outside the middle suburbs. For instance, our Melton and Ringwood offices are booming, simply because the quality of infrastructure, transport and schooling have improved in these areas, and there’s plenty of large houses with yards available. On the flip side, some families are also embracing apartment living and are forgoing the backyard for an inner-city lifestyle, where parks and facilities are within walking distance.
Remember, there is not a ‘one size fits all’ approach to housing families. Each Australian household is unique and is drawn to the living options that best meet their needs.
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