New Downsizingcomau Report Reveals Elderly Consumer Trends

The report has shed light on what those over 50 are looking for in housing in Australia

Numerous studies have been conducted around the world in order to predict and explain the erratic consumer behavior since the beginning of the pandemic.

Downsizing.com.au and OverSixty.com.au have just released the results of one such study where the 50’s+ property portal and news and lifestyle site surveyed around 1,800 consumers, matched it with other data sources, and reported the findings.

The report found that the pandemic has forced people to rethink their living situations, something that has been found in markets around the world where similar surveys were conducted throughout the year.

When it comes to downsizing, those over 50 who are looking to downsize are wanting more personal space, away from the public in some cases, with their own parking in order to avoid public transit.

Online house-hunting has also grown among those over 50, as the pandemic is teaching them new avenues to finding a home they wouldn’t have originally thought of.

Other highlights include, that when it comes to Australians over 50:

• One out of three people are more likely to downsize because of Covid.
• 54% believe two-to-more bedrooms are essential
• 38% want to be closer to public transportation (down by 45%, pre-Covid)
• For those moving because of Covid, 20% are doing so to get away from crowded regions

Downsizing.com.au co-CEO Amanda Graham said:

“We can see in this survey how COVID-19 has accelerated many over 50s housing trends already underway, including a desire for independent living and greater space and transport autonomy.

“During COVID-19, we have also really seen a very strong structural shift to consumer  search activity on digital channels.”