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THE RENTER OF THE FUTURE A SNAPSHOT OF THE LIFESTYLE OF AUSTRALIAN RENTERS Choose to rent Forced to rent Convenience adopters Early adopters TECH LIFESTYLERS (TL) PRAGMATIC LIFESTYLERS (PL) TECH HOMESEEKERS (TH) PRAGMATIC HOMESEEKERS (PH) 12% 18% 44% 26% Nationally there are almost 7 million Australians living in rented homes, which makes renters a massive demographic and economic force in Australia. Renters are almost 10 years younger than home owners, are twice as likely to live in medium and high density accommodation, and move at four times the frequency of those paying off a mortgage. Three in 10 of these households are choice renters and for them the Aussie dream is not owning their own home; as renters they are already living their dream lifestyle. These ‘choice renters’ are three times more likely to be tech savvy early adopters with more devices. WHO ARE AUSTRALIA’S RENTERS? You’ve been renting for quite some time and are happy to be doing so. Taking the unconventional route against home ownership, or perhaps choosing to invest elsewhere, you’ve chosen to focus on other things than paying a mortgage or staying up to date with the latest tech trends. You feel like you’ve missed the boat when it comes to the real estate market, and now it might be too late to get started on that mortgage. You might have spent decades renting, or are renting again after having settled somewhere else. Your preference is to update your devices only as needed – you’re secure enough to know you don’t need the latest gadget. You’re on the move and like to stay with the times, digitally connected and probably working full-time. You keep your options open and would seriously consider moving somewhere else if provided with the opportunity. You’re likely living in an apartment amidst the hustle and bustle of the city. You stay connected online and love keeping up with technology. You’ve been renting for a few years and would be keen to settle down if you could afford to buy a place in the area that you love. You’re motivated by the location you live in and if the opportunity provided itself to stay there, you’d be keen to. Z Y X BB B Z Y X BB B Z Y X BB B Z Y X BB B HD MD DH HD MD DH HD MD DH HD MD DH AUSTRALIA’S FOUR RENTAL PERSONALITIES Tech Lifestyler Tech Homeseeker Pragmatic Homeseeker Pragmatic Lifestyler STABILITY FLEXIBILITY 74% 91% 38% 66% 26% 9% 62% 34% TO STAY OR TO GO? 73% 27% ARE STABILITY RENTERS ARE FLEXIBILITY RENTERS prefer to stay in the same place for a while like the flexibility of moving when they want to Detached house 63% Semi-detached house 14% Apartments or units 22% Rent 30% Mortgage 42% Own outright 28% 30% of Australians rent, 42% own their home with a mortgage, and 28% fully own their home. The average renter stays in their home for just 1.8 years. This compares to 8 years for those who own their home with a mortgage and 18 years for those who own their home outright. TENURE WHERE AUSTRALIAN RENTERS LIVE HOME OWNERSHIP 77% 8% 10% ALL AUSTRALIANS (regardless if renting or owning their home) VS. AGE Renters are significantly younger than non-renters: The median age of adults living in a rented home is 35.1 years The median age of adults living in all private dwellings is 44.7 years INTERNET 18% of rentals have no internet connection, compared to 13% of all Australian homes. All Australians Australian renters 35.1 44.7 18% 70% 30% 44% 56% Z: Generation Z Y: Generation Y X: Generation X BB: Baby boomers B: Builders HD: High density MD: Medium density DH: Detached house WHICH RENTAL PERSONALITY ARE YOU? LEGEND Convenience Adopters of technology: get the most out of their devices and only update when they need to Early Adopters of technology: keep up to date with the latest technology and where possible have the latest model. Choice Renters: choose to rent because of the lifestyle Forced Renters: say they are forced to rent - Mark McCrindle, Social Researcher

Renter of the Future McCrindle Research for Optus

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THE RENTER OF THE FUTURE

A SNAPSHOT OF THE LIFESTYLE OF AUSTRALIAN RENTERS

Choose to rent

Forced to rent

Convenience adopters Early adopters

TECH LIFESTYLERS (TL)PRAGMATIC LIFESTYLERS (PL)

TECH HOMESEEKERS (TH)PRAGMATIC HOMESEEKERS (PH)

12% 18%

44% 26%

Nationally there are almost 7 million Australians living in rented homes, which makesrenters a massive demographic and economic force in Australia. Renters are almost 10years younger than home owners, are twice as likely to live in medium and high densityaccommodation, and move at four times the frequency of those paying off a mortgage.

Three in 10 of these households are choice renters and for them the Aussie dream isnot owning their own home; as renters they are already living their dream lifestyle.These ‘choice renters’ are three times more likely to be tech savvy early adopters withmore devices.

WHO ARE AUSTRALIA’S RENTERS?

You’ve been renting for quite some time and are happy to be doing so.Taking the unconventional route against home ownership, or perhapschoosing to invest elsewhere, you’ve chosen to focus on other thingsthan paying a mortgage or staying up to date with the latest tech trends.

You feel like you’ve missed the boat when it comes to the real estatemarket, and now it might be too late to get started on that mortgage.You might have spent decades renting, or are renting again after havingsettled somewhere else. Your preference is to update your devices only asneeded – you’re secure enough to know you don’t need the latest gadget.

You’re on the move and like to stay with the times, digitally connectedand probably working full-time. You keep your options open and would

seriously consider moving somewhere else if provided with the opportunity.You’re likely living in an apartment amidst the hustle and bustle of the city.

You stay connected online and love keeping up with technology.You’ve been renting for a few years and would be keen to settle

down if you could afford to buy a place in the area that you love.You’re motivated by the location you live in and if the opportunity

provided itself to stay there, you’d be keen to.

Z Y X BB B

Z Y X BB B

Z Y X BB B

Z Y X BB B

HD MD DH

HD MD DH HD MD DH

HD MD DH

AUSTRALIA’S FOUR RENTAL PERSONALITIES

Tech Lifestyler

Tech Homeseeker

Pragmatic Homeseeker

Pragmatic Lifestyler

STABILITY FLEXIBILITY

74%

91%

38%

66%

26%

9%

62%

34%

TO STAY OR TO GO?

73%27%

ARE STABILITY RENTERS

ARE FLEXIBILITY RENTERS

prefer to stay in the same place for a while

like the flexibility of moving when they want to

Detachedhouse

63%Semi-detached

house

14%Apartments

or units

22%Rent

30%Mortgage42%

Own outright28%

30% of Australians rent, 42% own their home with amortgage, and 28% fully own their home.

The average renter stays in their home for just 1.8 years.This compares to 8 years for those who own their homewith a mortgage and 18 years for those who own theirhome outright.

TENURE

WHERE AUSTRALIANRENTERS LIVE

HOME OWNERSHIP

77% 8% 10%ALL AUSTRALIANS

(regardless if renting or owning their home)

VS.

AGERenters are significantly younger than non-renters:

The median age of adultsliving in a rented home is

35.1 years

The median age of adultsliving in all private

dwellings is 44.7 years

INTERNET18% of rentals haveno internet connection,compared to 13% ofall Australian homes.

All Australians Australian renters

35.1 44.7

18%

70%

30%

44%56%

Z: Generation Z Y: Generation Y X: Generation X BB: Baby boomers B: Builders

HD: High density MD: Medium density DH: Detached house

WHICH RENTAL PERSONALITY ARE YOU? LEGEND

Convenience Adopters of technology: get the most outof their devices and only update when they need to

Early Adopters of technology: keep up to date with thelatest technology and where possible have the latest model.

Choice Renters:choose to rent because of the lifestyle

Forced Renters: say they are forced to rent

- Mark McCrindle, Social Researcher

THE RENTER OF THE FUTURE

0%

20%

40%

50%

30%

10%

WHAT AUSTRALIANS LOOK FOR IN RENTAL PROPERTIES

THE BEST THINGS ABOUT RENTING

1.

2.

3.

4.

5.

Allocated parking spaces

The ability to have pets

Access to cable internet

The strength of a mobile phone signal

The number of power points within rooms

38%

32%

31%

25%

22%

TOP 5 LIFESTYLE FEATURES RENTERS LOOK FOR

38%The ability tochange locations/suburbs easily

24%Easier to upsizeor downsize asneeded

18%Flexibility to travelfor extendedperiods of time

ACCESS TO CABLE INTERNET

STRENGTH OF MOBILE PHONE SIGNAL

TLTHPLPH

TLTHPLPH

35%39%23%27%

29%28%28%21%

INTERNET & POWER POINTS

FEELS LIKE HOME: Top ways Australian renters have changed their homes

46%Hung photo frames

or artwork

35%Added rugs to floors

29%Updated curtains

17%Created additional

storage

17%Changed light

fixtures

15%Painted walls

of renters say that one of the mostirritating things about moving intoa new rental property is the timeit takes to connect the internet.32%

Forced Renters and Stability Renters are more likely to find theinability to change the positioning of power points to be irritatingthan Choice Renters and Flexibility Renters.

FORCED RENTERS (HOMESEEKERS)

CHOICE RENTERS (LIFESTYLERS)

STABILITY RENTERS

FLEXIBILITY RENTERS

28%15%

26%19%

THE RENTER OF THE FUTURE

RENTER BEHAVIOUR AND TECH

RENTED THEIR ROOM /UNIT OUT

RENTER BEHAVIOURTech Lifestyler Tech Homeseeker Pragmatic Lifestyler Pragmatic Homeseeker

Average Australian renter

0

10%

20%

CAUGHT A LIFT WITH ARIDESHARE DRIVER

ORDERED TAKEAWAY ONLINE HIRED SOMEONE TO DOPERSONAL TASKS

TECH LIFESTYLERS:

AUSTRALIA'S TECH-SAVVY RENTERSRELY ON INTERNET CONNECTIVITY TO CARRY OUT EVERYDAY TASKS.

30%

40%

50%

60%

70%

FLEXIBILITY RENTERS VS. STABILITY RENTERS

have used an online site to renttheir room/unit out in the last year

27%have hired someone to do personaltasks at least once in the last year

31%have caught a lift with a ridesharedriver in the last year at least once

32%have ordered takeaway onlinein the last year at least once

66%

(11% more than once)(11% more than once)(14% more than once)(38% more than once)

Tech Lifestyler Average Australian renter

52% 8%12%15%66% 27%31%32%

Flexibility Renter Stability Renter

0

10%

20%

CAUGHT A LIFT WITH ARIDESHARE DRIVER

ORDERED TAKEAWAY ONLINE HIRED SOMEONE TO DOPERSONAL TASKS

30%

40%

50%

60%

70%

At least once in the last year

RENTED THEIR ROOM /UNIT OUT

THE RENTER OF THE FUTURE

Infographic byMETHODOLOGY:McCrindle survey to 1,007 Australians renting in Australia’s capital and major cities,in field from 2nd to 7th December 2015.

Commissioned by

DEVICES IN AUSTRALIAN HOUSEHOLDS

TECH LIFESTYLERS HAVE:

+2.7x2.7x more smart watches thanthe average Australian renter

1.5x more smart TVs than the average Australian renter

+1.5x1.31x more tablets than theaverage Australian renter

1.26x more smartphones than theaverage Australian renter

+1.31x +1.26x

IN AUSTRALIAN RENTAL HOUSEHOLDS, ON AVERAGE, EACH ADULT OWNS:

ON AVERAGE, THE TECH LIFESTYLER OWNS:

1.4 0.8 1.2 0.2 0.5SMARTPHONES TABLETS LAPTOPS SMART WATCHES SMART TVs

1.1SMARTPHONES

0.6TABLETS

1.0LAPTOPS

SMARTPHONES TABLETS SMART WATCHESSMART TVs

DEVICE OWNERSHIPTech Lifestyler Tech Homeseeker Pragmatic Lifestyler Pragmatic Homeseeker

0

0.5

1.0

1.5

FLEXIBILITY RENTERS HAVE: STABILITY RENTERS HAVE:

more desktopcomputers per personthan Flexibility Renters

21%more smartphonesper person thanStability Renters

33%more tabletsper person thanStability Renters

45%more laptopsper person thanStability Renters

35%

Average Australian renter