Strategising for a changing population

Not only is New Zealand’s population ageing rapidly, but big changes in the ethnic make-up of the country’s population are taking place too.

Additionally, the section of the population defined as disabled is tipped to increase as the population ages.

And the typical “nuclear family” household of the past is also changing – with single parent families and combined families noticeably on the rise.

These dramatic changes to New Zealand’s population mean landlords have to understand, and prepare for, the specific needs of their future tenants.

For example, the current housing stock is ill-equipped to deal with the requirements of the 65+ age bracket, which around a third of the country’s population will move into over the next 20 years.

It’s business 101 to think about the type of property an aging person is going to want, NZ Property Investors Federation executive officer Andrew King said.

“They are going to be small, one or two bedrooms, rather than large houses. They going to be easy to clean and maintain, ideally single level so no stairs or steps.”

In the May issue of NZ Property Investor magazine, our journalist finds out how investors can strategise and prepare for the different tenant needs of the future.

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