The Federal Government’s Intergenerational Report on Australia in 2055 describes demographic changes that will lead to a new structure for Australia’s cities, says the Urban Taskforce.
“The Intergenerational Report has some clear messages for how our cities will need to change,” says Urban Taskforce CEO, Chris Johnson. “Australia’s population will increase by around 16 million people who are living longer but with less working age younger people contributing taxes. The suburban family home will be less relevant to still active retirees and the growing need for younger people to be close to jobs. A new cosmopolitan urban approach to cities with apartments dominating is the likely form of the city.”
“Migration must continue at least at the projected rate of 215,000 a year to ensure that there are sufficient working age tax contributors to support the ageing population. We currently have 4.5 people of working age for every person over 65 but the report indicates this drops to 2.7 people by 2055.”
“With house prices in cities like Sydney spiralling upwards the extra 16 million people will struggle to find affordable housing unless there is a dramatic increase in housing supply. But this housing needs to be close to work opportunities so that productivity is not lost through excessive travel times. The obvious answer is more density around rail stations with work also located near major rail stations.”
“Future infrastructure provision must support more affordable housing with greater density close to transport nodes. With an ageing population living longer there will be a new 20 year post work, active living period for many Australian’s and they are better placed near amenities in apartments where socialising is easier.”
“The Intergenerational Report is a timely look forward to where Australia is heading and there are signals that we need to take into account now to best manage a productive future for all. Most importantly we will need to build many more dwellings in ways that understand future lifestyles and financial constraints.”