Basically I think it comes down to two options: downsize, or move further from the city.
So people who are in an ‘average’ house in middle-ring suburbs now can buy places further away from the city.
People who are in an ‘average’ house in inner-city suburbs can buy a place in a middle-ring suburb…
Today’s ‘average’ houses will cease to exist in the inner city and will get pushed further and further out, being taken over by apartments.
And because of this, any individual house on 600sqm will grow in value beyond the rate of inflation.
-Ian
Oops almost forgot about your first question:
– When 4 million baby boomers die over 15 years, who will be demanding their houses?4 of the people who are currently in 5-person households (or 3 of the people who are currently in 4-person households etc) when everyone in the future decides they want to live by themselves.
Originally posted by ian_from_brisbane:
4 of the people who are currently in 5-person households (or 3 of the people who are currently in 4-person households etc) when everyone in the future decides they want to live by themselves.I can only assume you are being serious?[blink]
From the Australian Bureau of Statistics:
Lone-person households are projected to increase from 1.8 million in 2001 to between 2.8 million and 3.7 million in 2026, to comprise just over a quarter (28%) to a third (34%) of all households in 2026, compared with a quarter (25%) in 2001.F.[cap]
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