The property market is an ever-evolving one, with the changing needs of citizens always meaning that things never stay the same for long.
This sentiment rings true for the Australian rental market. On September 23, The Australian Property Investor magazine identified in a press release that where Australians like to live and rent, and their preference of property type, has changed in recent years and will continue to do so.
The structure of families is changing, and while the nuclear family is still the most common household in Australia, making up 33 per cent of all homes, the fastest growing demographic is couples without children. Currently, this type of family structure makes up 30 per cent of all household situations and is set to overtake the nuclear family.
"Partly it’s generation Y delaying having kids until they’re in their 30s, so there’s now an extra decade where a couple doesn’t have children compared to older generations – and those young people are more likely to rent," said Louis Christopher, founder of SQM Research.
Young Australians are looking for the flexibility that renting offers, which is a major change from previous generations for whom purchasing a house was a priority.
Are you looking to rent, or rent out a property in Brunswick? You may want to consider advice from a knowledgeable real estate agent.