How important is assessing demographics in building your property portfolio or planning your business or personal ventures?
In today’s episode of Michael Yardney podcast, I chat with Simon Kuestenmacher, and we’re going to talk about 7 macro / big picture demographic trends.
So, at the end of the episode, you’ll have a better big picture macro view of what the demographic trends in Australia are.
Highlights from my conversation with Simon:
- Over half of Australia’s wealth is in housing, so the housing market underpins Australia’s wealth
- The property market itself isn’t in trouble
- However, the Australian middle class has been hollowed out, and the big challenge is getting low-paid workers on the path to homeownership
- We may move into the right direction because of corona-inspired infrastructure programs that create middle-skill jobs
- Australia is the most intensely concentrated population on the planet
- This is because of the kinds of jobs that Australia creates
- A large percentage of Australians are born overseas
- The influx of international students to Australia has created a student boom
- One of six international students will become permanent residents
- Australia is more generationally diverse than ever before
- Australia may be the location of choice for companies who want to set up Asia-Pacific centers
- The need to build higher-quality buildings that last longer
- Changes in where people want to live and the kinds of accommodation they need
- Mixed development in the inner cities
- The makeup of the workforce
- Baby boomers are staying in the workforce longer
- Close to half of the workforce is Gen Y, so it’s important to understand them
Links and Resources:
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Some of our favourite quotes from the show:
“I think one of the great things about our cities over the last couple of decades is the vibrancy of being in the inner city.” –Michael Yardney
“There’s no doubt that the bulk of these generations do think very very similarly, and to be a good employer or to sell to them, to be a good businessperson, you’ve really got to understand what drives, what motivates them.” –Michael Yardney
“Letting go of attachments makes your life richer, as you create space for new experiences to come.” –Michael Yardney
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