Equity: Population Diversity 4 demographic & social trends redefining Australian society.
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Transcript of Equity: Population Diversity 4 demographic & social trends redefining Australian society.
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Equity: Population Diversity4 demographic & social trends redefining Australian society.
Mark McCrindle
Tuesday 31 May 2011
DiverseCity: Landcom 2011 Sustainability Conference
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Trend #1Changing Population
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1. Population growth and diversity
2. Population older and younger
Changing demographics: 5 key impacts
www.mccrindle.com.au
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1971
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2011
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2051
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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
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Trend #2 Transitioning Generations
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Builders Generation Aged 66+
Builders
4% workforce0% in 2020
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Boomers35% of workforce15% in 2020
Baby BoomersAged 47-65
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Gen X43% of workforce36% in 2020
Generation XAged 32-46
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Gen Y
18% of workforce35% in 2020
Generation YAged 17-31
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Generation ZAged 16 & under
Gen Z0% of workforce12% in 2020
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Trend #3Shifting Wealth
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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+
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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”
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Builder Segment Profile
Grey Getaways (metro/regional)
9% of target market
43,540 Australians
“Now it’s our time to live”
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Builder Segment Profile
Thrifty Regional City (regional)
17% of target market
82,243 Australians
“We have worked hard to get where we are”
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Builder Segment Profile
Silver Styler (inner urban)
7% of target market
33,865 Australians
“I have options - I recognise quality”
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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”
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Builder Segment Profile
Downagers (capital city/regional city)
24% of target market
116,107 Australians
“Age is just a number”
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Year Housing Costs & Land Size
1971 5 to 6 times (land size 800m2)
2011 10 to 11 times (land size 400m2)
1971 2011
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Bye Bye Aussie Dream?
Baby Boomers:HousingFoodTransportClothing
Gen Y:HousingFoodTransportClothingEducationHealth insuranceMobile phoneInternetConsumer electronics…
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Trend #4Redefined Lifestages
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Family
2011
2014
Fastest Growing
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childhoodadulthoodadulthood19th Century
teens
adulthoodteens
Post Lifestage
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childhoodadulthoodadulthood19th Century
20th Century teensadulthood
childhood adulthood
Post Lifestage
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childhoodadulthoodadulthood19th Century
20th Century teensadulthood
childhood adulthood
childhood tweens adulthoodteens kippers21st Century
Post Lifestage
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