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Boomers miss the boat: Qld population shift leaves two age groups stranded

Dramatic shifts in Queensland’s demographics meant that baby boomers and young adults were being hit hardest by the housing crisis, according to a study by the University of Queensland.

Oct 18, 2022, updated Oct 18, 2022
Many baby boomers were skating through the economic turmoil (File image)

Many baby boomers were skating through the economic turmoil (File image)

In the lead up to Thursday’s housing summit, the State Government has also said it was asking for industry experts to investigate the impact of short-term rentals such as AirB&B and Stayz.

There have been concerns that the short-term market was a key factor in the housing shortage which has seen vacancy rates plummet.

UQ demographer Dr Elin Charles-Edwards, from UQ’s City Impact Lab, led a study that found the two age groups were increasingly likely to be impacted by the housing shortage.

It found the number of households in the state had increased, well beyond that of the population in the past five years. That meant there were fewer people in each dwelling which had pushed up demand.

Younger adults were also being forced to stay longer in the family home while older Queenslanders were increasingly living with other people.

A key finding was that in the past five years, the largest relative increases in population were in older age groups. The number of 70-74 year-olds increased by 35 percent and the number 75-79 year-olds increased by 37 percent.

“Our analysis of Australian Census data between 2016 and 2021 has found a decline in ‘householder’ rates for young adults, as well as those aged 60-plus,” Charles-Edwards said.

“More of them were sharing with others, instead of living in their own flat or house.

“This likely represents pent-up demand for housing that needs to be addressed.”

In some Queensland regions, people in their 20’s were also less likely to lead a household in 2021, compared to 2016.

“This was most pronounced in high growth areas like the Sunshine Coast and Cairns, but also markedly on the Gold Coast, Moreton Bay region and Wide Bay,” Charles-Edwards said.

“These are young people often staying longer in – or returning to – the family home.

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“And that could be due to local housing market dynamics and affordability issues for younger people.

“For baby boomers, the trend could reflect market factors as well as behavioural responses to the Covid-19 pandemic.”

She said a combination of elements was putting pressure on Queensland’s housing supply.

“It’s not just population growth – demand is also being driven by the ageing population and contemporary living arrangements,” she said.

The research found households were growing at a faster rate than the population.

“Between the 2016 and 2021 Censuses, the Queensland population grew by 9.6 per cent while the number of households increased by 13 per cent,” Charles-Edwards said.

“As people age households typically get smaller, and with our baby boomer cohort getting older the demand for housing will only grow.”

Charles-Edwards said more research was needed to understand the reflexive relationship between Queensland’s demography and housing.

“In periods of housing shortage, people might adapt by moving in with family or staying at home longer, but that’s not possible for everyone and not sustainable for many,” she said.

“Queensland needs well-formed housing policy, with people at the centre.”

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