Housing equity withdrawal in Australia: Prevalence, patterns and motivations in mid-to-late life

Ong, R, Wood, G, Austen, S, Jefferson, T and Haffner, M 2015, 'Housing equity withdrawal in Australia: Prevalence, patterns and motivations in mid-to-late life', Housing Studies, vol. 30, no. 7, pp. 1158-1181.


Document type: Journal Article
Collection: Journal Articles

Title Housing equity withdrawal in Australia: Prevalence, patterns and motivations in mid-to-late life
Author(s) Ong, R
Wood, G
Austen, S
Jefferson, T
Haffner, M
Year 2015
Journal name Housing Studies
Volume number 30
Issue number 7
Start page 1158
End page 1181
Total pages 24
Publisher Routledge
Abstract In an era of population ageing, the primary home is increasingly viewed as a personal resource that can perform a pension role in retirement. This article assesses the extent to which Australians aged 45 years and over withdraw housing equity through in situ mortgage equity withdrawal (MEW), downsizing and selling up. We find that the incidence of housing equity withdrawal has increased over the last decade despite a global financial crisis. MEW is the dominant form of equity release among those under pension age, while downsizing or selling up is more frequent among those above pension age. Downsizing and selling up are more likely to be prompted by adverse life events than MEW. Selling up is typically an option of last resort. Our findings offer insights into important debates around homeownership societies and the welfare role performed by owner-occupied housing in mid-to-late life.
Subject Urban and Regional Planning not elsewhere classified
Keyword(s) Downsizing
Housing equity withdrawal
Mortgage equity withdrawal
Selling up
DOI - identifier 10.1080/02673037.2015.1009875
Copyright notice © 2015 Taylor and Francis.
ISSN 0267-3037
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Citation counts: TR Web of Science Citation Count  Cited 7 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 2 times in Scopus Article | Citations
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