Older homeowners to ‘age at home’

More than 90% of older Australians – particularly those who own their own homes – intend to stay in their current accommodation rather than move to aged care or move at all.

A report released by the Australian Institute of Health and Welfare (AIHW) recently showed the desire to age in place among older Australians and examined the housing circumstances of older Australians by different tenure type and the desire to age there.

The report evaluates older people who own their home outright (about 73% of older households), those paying a mortgage (5%), and those who rent their home privately or through social housing (10% and 8% respectively).

“Many older Australians say that they desire to ‘age in place’ – that is, to remain in their current accommodation as opposed to moving into specialised care, or even moving at all,” said AIHW spokesperson, Geoff Neideck.

“This report shows that older people who are outright home owners not only intend to move less, they actually move less than other household tenure types.”

Older home owners exhibit the highest levels of satisfaction with their housing compared with older mortgagees, private renters and social housing tenants. They were least likely to say that they could not afford to move.

Mortgagees were unique in that even at older ages the most common reason given for actually moving was to upsize.

Private renters as a group appear least satisfied with their housing conditions.

“The majority of older private renters intend to move in the next five years and report the fewest number of reasons for wanting to stay in their current home,” Mr Neideck said.

“They also move most frequently, despite expressing anxiety about this.”

For most households, location is the most often reported reason to stay, followed by comfort and then finances. An exception to this is social housing tenants, who reported that financial considerations were most important.