HOW OFTEN DO PEOPLE MOVE? According to the 2007-08 Survey of Income and Housing, of people aged 15 years and over, over one-quarter (27%) had been living in their current home for 15 years or more, 30% had been there for 5-14 years, and 43% had moved in the last five years (recent movers).
Data shows that the average Aussie homeowner now holds onto their property longer than a decade ago. In 2009, the average tenure for a house owner was 7.5 years but that had risen to 11.3 years by 2019.
Australians are among the most mobile people in the world, with four in 10 changing address every five years, and nearly 15 per cent moving every year.
In 2019–20, 1.14 million households (12% of all households) moved at least once in the previous 12 months.
Figures show the average age for men to leave was about 24 in 2019, up from closer to 23 almost two decades ago. For women, the average age to leave in 2019 was after they reached 23, compared to closer to 22 in 2002.
While there are a lot of factors involved, the average age when people move out of their parent's home is somewhere between 24 and 27. This makes logical sense – it's after many people have completed college and around the time when most people get married and/or are in a long-term relationship.
Who is Australia's first home buyer? The ABS has a number of interesting statistics regarding the identities of Australia's first home buyers. The average age is between 31 and 33 and the majority are couples, with about half of these including children.
1.6% of Australians own 2 investment properties.
Here's how many properties investors hold in Australia: 5% of investors hold 1 investment property. 18% of investors hold 2 investment properties. 7% of investors hold 3, 4, or 5 investment properties.
Home ownership data from the 2021 Census show a home ownership rate of 67%, down from 70% in 2006. While the home ownership rate remained around 67–70% from the early 1970's, the rate for different age groups has varied markedly over this time.
In Australia, the average life of a brick home is 88 years and a timber home is 58 years (Snow and Prasad 2011). Many homes last much longer than this. Decisions that are made about homes today will continue to have consequences for many decades.
The main recipients of the pandemic-era migration were south-east Queensland and small coastal communities with more spacious homes, according to analysis by The Australian Financial Review of newly released regional population data from the Australian Bureau of Statistics.
Financial pressures have become so extreme in recent months that a rent increase of $50 a week would prompt 40 per cent of Australians to consider moving house. While an interest rate rise of 2%, was enough to make a third (27%) of Australians pack up and move, most likely interstate.
“The rule of thumb is to update your home every five to ten years. This does not necessarily mean you have to undertake costly renovations that involve ripping out tiles and knocking down walls. Often just changing small features such as door handles and taps can have the desired effect,” Goslett explains.
“People used to do it because it was cheaper but these days you get more people doing it because of the value of the land especially around Byron Bay. An old house restored has got better resale than a new similar priced project home. It has more character and style and the market for them is much stronger.”
Average real estate return on investment
The average rental yield in Australia is around 8%, with 1% accounting for ongoing costs like dues, strata and insurance fees.
The 2021 Census reveals that 10.1 per cent (1,043,776 homes) of Australia's 10,318,997 private dwellings were unoccupied on the night of the Census.
Of the 122,494 people experiencing homelessness in Australia in 2021: Two in five (39.1%) were living in 'severely' crowded dwellings. One in five (19.8%) were in supported accommodation for the homeless.
Assuming that the average mortgage age in Australia starts somewhere between 25 and 34 years, then to work out the average age to pay off a mortgage in Australia, you just need to add a 25 to a 30-year term. This would make the average age to pay off a mortgage in Australia between 50 and 64 years.
The median age of a first homebuyer nationally has risen by a full decade – to 34.5 years of age. With housing prices now significantly higher relative to household incomes, loan terms have been extended, with 30-year mortgages now commonplace.
Australia's largest private landowners, pastoralists Donny and Colleen Costello, have expanded their cattle station empire to more than 9.2 million hectares, after acquiring Mount Doreen Station in the Northern Territory for $70 million.
The average yearly salary in Australia is 90,800 AUD (USD 60,355). Let's go through a few key indicators of the average earnings in Australia so you can fully understand salary statistics and trends in the country.
The average annual salary in Australia is $68,900 and $35.30 per hour. It is just the average salary for basic workers but skilled and experienced workers also earn around $108,980 annually. The average salary also varies depending on the field of work and the job role of workers.
While the average age borrowers expect to pay off their mortgage is 59, the number of survey participants who have no idea when they will pay it off at all stood at 16%. In 2019, 9% of those asked didn't know and in 2020, 11% gave this answer.