Council on the Ageing (COTA) NSW has today launched research report Debt, Rent and Homelessness: An Insecure Future, highlighting the housing challenges faced by home owners and renters over the age of 50 in the state.

An Insecure Future, combines findings from the 2017 COTA NSW housing survey as well as census data and other published reports, showing an increasing number of older people experiencing housing stress and instability.

COTA NSW CEO Meagan Lawson said that the findings in the report show a clear need for better provision of affordable, accessible and appropriate housing for older people.

“For many older people in NSW, housing security remains elusive,” said Lawson. “There are a significant number of people experiencing mortgage and housing stress in our state as well as many relying on other people for their housing. Measures need to be implemented to help support older home owners and renters who are struggling,” Lawson said.

Key findings from the report include:

• Of homeowners, 13% of people aged 50 and over were still mortgagees.

• 15.3% of mortgagees never intended to pay off their mortgages.

• 71.5% of renters estimated that they spent greater than 30% of their income on rent.

• 21.1% of renters estimated that they spent greater than 60% of their income on rent.

• The main source of income for 39.7% of renters in the private market was either the Aged or Disability pensions.

• 7.3% of respondents had relied on others for housing in the past 5 years.

• There were no significant differences in the findings based on where you lived in the state.

“The current system, and how we think of housing, isn’t working. We need new ideas and new solutions – co-housing, cooperatives or mixed equity - that are affordable for all people across their life course.” Lawson said.

Report recommendations include increasing the supply of social housing, reviewing eligibility guidelines for older people and priority social housing and an increase to current levels of Newstart Allowance and Commonwealth Rent Assistance payments. 

The report was informed by the 2017 COTA NSW Housing Survey with more than 7,600 older people across the state taking part. The report follows the recent COTA NSW 2018 Engagement Report that asked older people across the state what issues matter most to them and a national survey by COTA Australia.

COTA NSW’s 2019 Policy Platform Now is the time outlines key priorities in the lead up to the state election that address these issues.

The report, including COTA NSW’s recommendations, can be accessed at:

https://goo.gl/34Rsbr

About COTA NSW: The Council on the Ageing NSW (COTA NSW) is the peak organisation for people over 50 in our state. We’re an independent, consumer-based non-government organisation.