Aussies avoid moving house
More than half of us have been residing at the same address for more than five years.
Nearly 60% of Australians aged 14 and over have been living at the same address for five years or more, according to new findings from Roy Morgan Research. The company found 40.7% of Australians have been at their current address for a decade or more, while 17.4% have lived at their current address for five to 10 years. Only 14.3% have lived in their current home less than 12 months.
Queenslanders were the most mobile households, with only 36.5% of Brisbane residents and 32.7% of rural Queenslanders living in their current residence for more than a decade. Residents of South Australia and ACT were the least likely to make a change, with 54.3% of South Australians and 51.3% of ACT residents living at their current address for more than a decade.
Of those who have lived in their current residence less than 12 months, 65.3% were renters. By contrast, 68.4% of Australians who own their home outright have lived at the same address for a decade or more.
“Given that much of Australia is in the midst of a housing boom, it’s a little surprising more people aren’t trying to profit from the skyrocketing property prices and selling up. Of course, the boom also makes it more difficult for first-time home-buyers to enter the market, which ensures that demand for rental properties remains strong too,” Roy Morgan communications director Norman Morris said.
Morris said real estate agents and property managers would benefit from understanding the segments of the population most likely to consider moving so they could focus their marketing efforts more effectively.