If you’re feeling stressed from increasing life and financial pressures and thinking about moving back home, you’re not alone. In fact, many families are reconsidering their living options and moving in with their relatives: kids, parents, grandparents, all under the one roof.
Multigenerational living arrangements thought to be more commonplace in many parts of the world are quietly emerging in Australia. Research from the UNSW City Futures Research Centre shows one in five Australians live in a multigenerational household. That increases to around one in four Sydneysiders who live with multiple generations of relatives.
Senior Research Fellow from the UNSW City Futures Research Centre, Dr Edgar Liu, studies the emergence of multigenerational housing in Australia. He says that housing affordability is one of the key drivers behind the growth of multigenerational living.
“You have young people who, increasingly, are unable to afford to leave home, and at the same time, you have [their parents and grandparents] experiencing perhaps similar financial stress,” Dr Liu says.
But while most families are entering into the arrangement for financial reasons, many choose to stay for the support.
“‘We find that whether forced to live in the arrangement because of financial pressure or not, people like having their family around and having that companionship and support. It’s a way for families to stay connected and allows for greater intergenerational connections - especially for the older generation, they can be closer to the family and spend more time with the grandkids.”