Housing forms a large part of the Australian economy and is an integral part of people’s wellbeing. In addition to serving a basic human need for physical shelter, contributing to physical and psychological health and emotional security, it is a key determinant of people’s wealth and financial security in old age. Residential land and dwellings account for more than half of total household assets, two-thirds of Australian households are home owners, and for most people the family home is the single largest source of wealth. The dual nature of housing — being an essential part of everyday consumption as well as a major investment asset — means that housing decisions bring up policy issues that span many aspects of wellbeing.

The growing longevity and ageing of Australia’s population, as well as other structural and demographic changes, elevate the policy imperative to understand what drives the housing decisions of older people and the consequences for their wellbeing. This study aims to explore the drivers of those decisions, as well as some of the barriers to better outcomes. It provides important information to inform likely future public policy discussion.