27 Nov 2024

Personal finance: Is New Zealand ready for an increase in

From Nine To Noon, 11:45 am on 27 November 2024
14588891 - rental agreement form with signing hand and keys and pen

Photo: 123RF

The latest census figures show that around a quarter of people over 65 don't live in a home they own, or partly own.

The Retirement Commission says the New Zealand property sector is unprepared for a huge increase in seniors needing to rent homes in the future - and it's predicting a 100 percent increase in the number of renters aged over 65 by 2048.

Money expert Liz Koh explores what it would take for the property sector to support older renters to 'age in place'.

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