Nationally there are almost 7 million Australians living in rented homes, which makes renters a massive demographic and economic force in Australia.
The report highlights that 3 in 10 renters are ‘choice renters’. “There’s this idea that the great Aussie dream is to move into a home that you own and if you haven’t done that then the dream hasn’t come true for you. But with the generational change that’s just not true. You’ve got a lot of people who are the choice renters because they prefer the lifestyle. And they themselves might be landlords so financially they’re rocketing ahead.” – Mark McCrindle.
30% of Australians rent – that’s more than own their own home outright and they are twice as likely to be living in medium and high-density housing than the average Australian, are almost years younger, and move much more frequently – on average every 1.8 years.
Renters are also tech-savvy, the study showed. “Renters comprise nearly a third of Australian households. For the modern Aussie renter technology underpins and has become completely fused with their lifestyle. This group is among the first to jump onto new technologies, keeping abreast of the latest trends and, where possible, the latest devices. Accessing the internet quickly from their new rental property is a must for them.” – Mark McCrindle.
Highlighting the lifestyle aspects that Australians renters seek, the top 3 best things they like about renting are:
- The ability to change locations easily (38%)
- Easier to upsize or downsize as needed (24%)
- Flexibility to travel for extended periods of time (18%)
Your friendly mortgage broker,