Housing Equity Withdrawal: Perceptions of Obstacles among Older Australian Home Owners and associated Service Providers
MetadataShow full item record
Housing wealth dominates the asset portfolios of the older population in Australia and many other countries. Given the anticipated spike in fiscal costs associated with population ageing, there is growing policy interest in housing equity withdrawal (HEW) to finance living needs in retirement. This paper sheds light on homeowners’ perceptions of the obstacles associated with two forms of HEW: mortgage equity withdrawal (where the in situ home owner increases his/her housing-related debt) and downsizing (where housing equity is released by moving to a lower-valued property). We uncover a series of age-specific barriers impeding older Australians’ use of these forms of HEW through qualitative analysis of semi-structured interviews conducted with home owners and professional service providers in related areas of policy and practice. To that end, we recommend the development of a range of safeguards that will minimise the risk exposure and other obstacles associated with HEW for older home owners.
Showing items related by title, author, creator and subject.
Barrett, G.; Cigdem, M.; Whelan, S.; Wood, Gavin (2015)As house prices in Australia have increased, concern has been expressed about the ability of young Australians to attain home ownership. In August 2014, for example, the proportion of all mortgage financed dwelling ...
Ong, Rachel (2009)This paper investigates whether the houses of elderly home owners appreciate at the same rate as the average house price appreciation rate in the market. For most elderly home owners, their wellbeing is strongly underpinned ...
Entries and exits from homelessness: A dynamic analysis of the relationship between structural conditions and individual characteristicsJohnson, G.; Scutella, R.; Tseng, Y.; Wood, Gavin; Guy, J.; Rosanna, S.; Yi-Ping, T.; Gavin, W. (2015)This report examines the relationship between structural factors, individual characteristics and homelessness. Our interest in the interaction of structural conditions and individual characteristics gives rise to two ...