Housing Boom(ers): The Crisis Facing Older Australians

SBS's Insight program examines the housing challenges confronting baby boomers, from soaring rents to the growing threat of homelessness.

The episode airs Tuesday 28 April at 8.30PM on SBS or SBS On Demand.

Rising Costs, Rising Fears

Sandra Barker, 70, spends over 60% of her pension on rent. She fears a rent increase—or eviction if her landlord sells. "I worry about homelessness among older women," she says.

For Sandra, a retired schoolteacher renting a two-bedroom unit in Sydney's south-west, the financial strain is severe. Despite the pressure, she values her privacy and prefers living alone. She is now studying to become a library assistant—and says she would consider sleeping in her car or couch-surfing if she became homeless.

Billie Scott, 64, rents a house in Alice Springs with her sister and niece. She chooses not to buy a home due to the financial burden and is weighing her options, including living with extended family. "I don't want to end up in a retirement village—or be homeless," she says.

Locked Out of the Market

Sally, 66, sold her property in 2012 to care for parents in the UK. When she returned to Australia, she found she could not re-enter the housing market. Prices had risen sharply, and age-related lending restrictions left her without options.

Her solution? A tiny home on wheels. She plans to lease land and go off-grid, gaining control over her housing and the ability to move if needed.

The Statistics

Home ownership among households with a person aged 65 or over is declining. According to a 2024 Australian Institute of Health and Welfare report, it fell from about 79% in 2003–2004 to 74% in 2017–18.

Expert Insight: Why Older Women Are Hit Hardest

Financial adviser Grace Bacon says obtaining loans becomes harder with age, and that real estate agents and landlords tend to increase rents, creating uncertainty.

She highlights a troubling trend: a rising number of older women facing homelessness. The causes include:

• Lower superannuation balances due to the gender pay gap
• Career breaks for motherhood
• Divorce or widowhood

"Plan for retirement 10 to 15 years in advance," Bacon advises. She urges clients to prioritize their own retirement over leaving an inheritance.

Alternative Housing Models

Cohousing

Ian, in his 60s, lives with two other couples on a large block in Canberra. They share facilities and costs while maintaining independent units. "Cohousing requires cooperation and communication," he says.

Tiny Homes

For Sally, the tiny home on wheels offers both affordability and autonomy. It reduces her costs and gives her the freedom to move if circumstances change.

Personal Preferences

Sandra Barker values her privacy above all, even under financial strain. She is studying to become a library assistant and, if homeless, would consider sleeping in her car or couch-surfing.

Billie Scott avoids retirement villages and homelessness by keeping the option of living with extended family open.

Watch SBS's Insight: 'Housing Boom(ers)' — Tuesday 28 April at 8.30PM on SBS or SBS On Demand.