Research firm IBISWorld recently released a report containing insights into who we, as Australians, are today, and who we will be in 2025 – including where we may be set to live.
On release of the report, IBISWorld General Manager, Ms Karen Dobie, said that increased urban sprawl, gentrification and multi-occupancy housing will continue to be the big housing trends in the coming ten years.
She also noted that Western Australia is set to experience strong population growth – potentially jumping from 2.4 million to 3.4 million by 2025, adding an additional one million people to the state over the next decade.
In terms of the types of residences that people will be living in, Ms Dobie commented that property price increases, combined with family and lifestyle factors, are driving a trend towards apartment and high-density living. More Australians are trading in quarter acre blocks for balconies – a trend IBISWorld expects to continue as Australia heads towards 2025.
Ms Dobie said that "The increasing age of marriage (now 29 for females, 32 for males) and the trend to wait longer to have children is another factor fuelling the shift towards apartment and share house living – with young people opting to live in close proximity to work, entertainment and public transport."
The report also contained insights into the amount of hours Australians will be working and spending leisure time in 2025, as well as the source of our power, with the use of renewable sources and green energy forecasted to increase.