admin-ajax.php

Around 7 million Australian bedrooms are unoccupied!

We have more bedrooms than people in Australia.

In fact around 7 million bedrooms (one quarter of all bedrooms) are unoccupied.Bed 2167288 1920

This is one of the many intersting stats from the 2016 Census

There’s been lot’s of analysis of the recently released Census data and one of my favourite commentators, demographer Bernard Salt wrote an intersting pice on the Australian about the relationship between the number of bedrooms and the people of Australian.

In August last year the population stood at 23.4 million, up 9 per cent on the 2011 figure.

The number of private dwellings was 9.9 million, while the number of bedrooms was 27 million.

The bedroom and the private-dwelling growth rate match the population growth rate at 9 per cent; no one should be squishing up in the bedroom (unless they really want to says Salt).

Screenshot 2017 08 05 12.31.38 (1)

Salt suggests that allowing for those Aussies who share a bedroom (couples and  siblings sharing a room) it is likley that about a quarter of all bedrooms are unoccupied.

This equates to seven million bedrooms that are waiting for young children to arrive or for older children to return to the nest, or are designed to accommodate the odd visiting relative or friend.

Based on census figures, we are producing about 157,000 private dwellings and 438,000 net new bedrooms every year.  

Population growth has averaged 379,000 a year since 2011.

On these figures, Australia’s unused bedroom supply is growing by no fewer than 59,000 a year, or about 1100 a week. 

Reno-Workshop-2017-small-ad

The latest census reveals there are 1,200 private homes in Australia with 30-plus bedrooms.

Sure the typical three-bedroom dwelling still dominates, but two-bedroom apartments are growing faster with stock up 5 per cent since 2011.

Three-bedroom houses are up barely 1 per cent in the same timeframe.

However, the number of four-bedroom houses is up 12 per cent since 2011 while the number of five, six, seven and even eight-bedroom houses is up by more than 20 per cent in the past five years.

Of course all the bedrooms in these big houses aren’t being used as bedroom.

It’s just that we like our space and have home offices, studies, media rooms etc.

Screenshot 2017 08 05 12.32.02

The ownership pattern of housing follows a familiar narrative.

  • One and two-bedroom accommodation is most commonly rented.
  • Three, four and five-bedroom housing is usually owned outright or with a mortgage.
  • Peak renting usually occurs in the early to mid-20s; ownership kicks in progressively from the 30s.
  • More than 80 per cent of 70-somethings and 80-somethings own their three or four-bedroom homes.
  • The largest pooling of surplus bedrooms is associated with the retired population.

Screenshot 2017 08 05 12.32.59 1160x951

Read more at The Australian

………………………………………………………….

IF YOU’RE ALREADY AN EXPERIENCED PROPERTY INVESTOR OR YOU WANT TO “FAST TRACK” YOUR SUCCESS…

Here’s your chance to invest 2 powerful days and learn renovation and development strategies that experienced property experts are using around Australia to “manufacture” capital growth and generate strong rental returns, so that they can win in today’s challenging property markets.

TAKE YOUR PROPERTY INVESTING TO A WHOLE NEW LEVEL BY JOINING ME IN OCTOBER AT MY…
PROPERTY RENOVATIONS & DEVELOPMENT WORKSHOP.

Workshop Presenters

What’s it all about? Click here and find out more.

Maybe now it’s time you stepped up and played in the big league by getting started in property renovations or development.

This is the course where other “experts” who are now teaching got their education. Click here find out more and reserve your place

Michael Yardney

………………………………………………………….



icon-podcast-large

SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

icon-email-large

PREFER TO SUBSCRIBE VIA EMAIL?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


Avatar for Property Update

About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


'Around 7 million Australian bedrooms are unoccupied!' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*

facebook
twitter
google
0
linkedin
0
email

Michael's Daily Insights

Join Michael Yardney's inner circle of daily subscribers.

NOTE: this daily service is a different subscription to our weekly newsletter so...

REGISTER NOW

Subscribe!