The continued growth in intergenerational living
Many buyers are turning to intergenerational living. Here’s why it’s exploding as a real estate trend in Hobart.
Intergenerational living, sometimes called multigenerational living, is when multiple generations of a family live together under one roof—or at least on the same block of land.
Traditionally, this setup involves elderly parents moving in with their adult children and grandchildren, sometimes even great-grandchildren. But it’s not just about keeping family close; it’s becoming a practical solution to rising housing costs, lifestyle flexibility, and ensuring support across generations.
What does intergenerational living look like in Hobart?
Intergenerational living takes many forms. Some families share a single home, while others create separate zones within a property. It could be a self-contained unit out the back, a renovated basement, or a granny flat in the garden.
For some, this arrangement is temporary—perhaps while renovating, transitioning between homes, or returning from overseas. For others, it’s a long-term lifestyle choice that works for everyone.
Why is intergenerational living making a comeback?
This way of living isn’t new. In many cultures, it’s always been the norm. Even in Australia, it was common before the mid-1900s when housing availability and a greater emphasis on privacy shifted the trend toward smaller households.
But now, with housing affordability becoming a major issue, multigenerational living is on the rise again. According to research from UNSW, one in five Australians now lives in a multigenerational household, with that number climbing to one in four in Sydney. Between 2016 and 2021, the number of three-generation households in Australia increased by 22%.
The financial and lifestyle benefits
The biggest driver of this trend? Economics.
· Shared costs: Mortgage repayments, utilities, groceries, and maintenance costs can be split, making homeownership more accessible for younger buyers and easing financial pressure on retirees.
· Homeownership opportunities: Some first-home buyers are pooling funds with parents to afford a property together, often modifying the home to create distinct living spaces.
· Support and convenience: Having family nearby means help with childcare, home maintenance, and companionship for older relatives.
Overcoming the challenges
Of course, living with multiple generations isn’t without its challenges. Privacy is a common concern, so well-designed spaces with separate entrances and private retreats can help maintain harmony. Clear expectations about finances, responsibilities, and household rules are also essential.
Legal and financial considerations shouldn’t be overlooked either. Experts recommend having a written agreement outlining ownership, contributions, and a plan for handling changes in circumstances (such as relocation, illness, or separation).
How is Hobart’s housing market responding?
Intergenerational living is influencing property trends, with a growing demand for homes that offer flexible living arrangements.
Tasmania is seeing an increasing number of properties adapted for multigenerational living. Spacious homes with dual living areas, self-contained units, or secondary dwellings are becoming highly sought after.
Expert guidance from New Haus Agency & Ed McKay
Navigating the intergenerational living trend requires expert advice and experience. New Haus Agency, led by Director Ed McKay, has extensive knowledge in marketing and selling properties tailored for multigenerational households. With a track record of securing premium results for properties featuring separate living zones, self-contained units, and adaptable layouts, Ed McKay is the go-to real estate professional for families seeking these unique housing solutions in Hobart.
Is intergenerational living right for you?
For some, this lifestyle provides a strong sense of connection, security, and financial stability. It can alleviate loneliness, foster a supportive environment, and allow multiple generations to thrive under one roof.
As Hobart’s property market continues to evolve, intergenerational living isn’t just a passing trend—it’s a smart, sustainable solution for many families. If you’re considering
a home that caters to multigenerational living, New Haus Agency and Ed McKay are here to help you find the perfect fit.
