Jan 28, 2016 |

Swinging 60s arrive big time for baby boomers

Article from The Australian columnist Bernard Salt

This year is an important one in the world of demography. The midpoint of the Baby Boomer generation is turning 60. Yes, it’s those born in 1956 who will be turning their minds to the ever awkward subjects of retirement and superannuation. Not that those at the beginning of the back-end of the baby boom have completely ­ignored these subjects until now, it’s just that 60 focuses their minds. 

More than a decade ago first-wave Baby Boomers soaked up and competed up lifestyle property in seachange and treechange locations. Now it’s the second-wave Baby Boomers’ turn to turn-up the lifestyle property heat. Downshifting and downsizing are all the go and continue to gather momentum, especially in big cities where boomers are cashing in on the equity in the family home.

But not all boomers will want to downshift into a groovy inner-city apartment. (It is permissible to describe an apartment as “groovy” when talking about Baby Boomers.) Some will want to remain connected to their local area. Townhouse apartments in inner-middle suburbia with a bit of garden, a double garage and a storage area for all the family-home stuff that “might come in handy” is on trend.