Aging tipped to hit regional house prices
Professor Natalie Jackson of Waikato University told a Retirement Policy Research Centre (RPRC) conference in Auckland on Friday that the ratio of "decumulators" to "accumulators" is increasing around the country as the population ages.
She said about one-third of older people sold their homes upon retirement, meaning there would be a large increase in the number of house sellers as baby boomers reached retirement age.
But she said the departure of young people had led to a “hollowing out” of the age structure in the regions, leaving future house sellers in these areas with few buyers.
“If you sell in Auckland you’ll be right but everywhere else it’s going to be difficult. Right throughout the country decumulators are increasing relative to accumulators and it’s extreme in some cases,” she said.
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