Equity: Population Diversity4 demographic & social trends redefining Australian society.

Mark McCrindle

Tuesday 31 May 2011

DiverseCity: Landcom 2011 Sustainability Conference

Trend #1Changing Population

1. Population growth and diversity

2. Population older and younger

Changing demographics: 5 key impacts

www.mccrindle.com.au

1971

2011

2051

1. Population growth and diversity

2. Population older and younger

3. Increasing geographical mobility

4. Increasing vocational mobility

5. Intergenerational change

Changing demographics: 5 key impacts

www.mccrindle.com.au

Trend #2 Transitioning Generations

Builders Generation Aged 66+

Builders

4% workforce0% in 2020

Boomers

35% of workforce15% in 2020

Baby BoomersAged 47-65

Gen X43% of workforce36% in 2020

Generation XAged 32-46

Gen Y

18% of workforce35% in 2020

Generation YAged 17-31

Generation ZAged 16 & under

Gen Z

0% of workforce12% in 2020

Trend #3Shifting Wealth

Median net worth -couple household

$642,000 $480,000

Median household net worth relative to all households Top 25% Top 40%

Percentage of population 25% 14%

Net worth as % of national private wealth 55% 19%

Proportion of household wealth held by top net worth quintile (cf 20%)

42% 28%

Net Worth of Baby BoomersBoomers 45-64 Builders 65+

Builder Segment Profile

Generation Tradition (regional/ suburban)

30% of target market

145,134 Australians

“It’s about the family you have and the legacy you leave”

Builder Segment Profile

Grey Getaways (metro/regional)

9% of target market

43,540 Australians

“Now it’s our time to live”

Builder Segment Profile

Thrifty Regional City (regional)

17% of target market

82,243 Australians

“We have worked hard to get where we are”

Builder Segment Profile

Silver Styler (inner urban)

7% of target market

33,865 Australians

“I have options - I recognise quality”

Builder Segment Profile

Solo Senior (outer metro/regional)

13% of target market

62,892 Australians

“I have independence and routine - yet I’m open to more”

Builder Segment Profile

Downagers (capital city/regional city)

24% of target market

116,107 Australians

“Age is just a number”

Year Housing Costs & Land Size

1971 5 to 6 times (land size 800m2)

2011 10 to 11 times (land size 400m2)

1971 2011

Bye Bye Aussie Dream?

Baby Boomers:Housing

Food

Transport

Clothing

Gen Y:Housing

Food

Transport

Clothing

Education

Health insurance

Mobile phone

Internet

Consumer electronics…

Trend #4Redefined Lifestages

Family

2011

2014

Fastest Growing

childhoodadulthoodadulthood19th Century

teens

adulthoodteens

Post Lifestage

childhoodadulthoodadulthood19th Century

20th Century teensadulthood

childhood adulthood

Post Lifestage

childhoodadulthoodadulthood19th Century

20th Century teensadulthood

childhood adulthood

childhood tweens adulthoodteens kippers21st Century

Post Lifestage