Home • PRRES Inc. Journal • Read the Journal

Job Security and First Home Buyers

Author/s: Valerie Kupke, Wayne Marano

Date Published: 1/01/2003

Published in: Volume 9 - 2003 Issue 4 (pages 409 - 424)

Abstract

This paper discusses the implications of labour market change for first time homebuyers. It reports on whether experiences of labour market change, in particular the lack of job security resulting from more casual and contract employment, is impacting on their purchaser behaviour. It explores the relationship between job security and financial wellbeing of first home buyers, expectations of future job security and if and how these have influenced their home purchase. The survey shows that, while future job security is not a concern for many households, any concerns about job security are strongly associated with a households financial well being and income level. Those who are finding life the most difficult financially are the same households with the greatest concerns about future job security. As well, the survey shows that despite the stated lack of concern, most first time buyers acknowledge that their experience of job security has influenced their purchase behaviour.

Download Full Article

Download the Full Article PDF

14445921.2003.11104151.pdf 14445921.2003.11104151.pdf (531kB)

Keywords

First Time Buyers - Housing - Labour Market

References

  • Australian Bureau of Statistics. (1998), Labour Mobility , Cat No. 6209.0 (ABS, Canberra).
  • Australian Bureau of Statistics. (1999), Working Arrangements , Cat No. 6342.0 (Australian Bureau of Statistics, Canberra).
  • Australian Bureau of Statistics. (2000), Forms of Employment , Cat No. 6359.0 (Australian Bureau of Statistics, Canberra).
  • Australian Bureau of Statistics. (2000a), Survey of Income & Housing Costs 1997 -98 , unpublished data.
  • Australian Bureau of Statistics. (2001), Australian Social Trends , Cat No. 4102.0 (Australian Bureau of Statistics, Canberra).
  • Australian Bureau of Statistics. (2002), Australian Social Trends , Cat No. 4102.0 (Australian Bureau of Statistics, Canberra).
  • Maclennan D., Meen G., Gibb K. and Stephens M. (1997), Fixed commitments, uncertain incomes: sustainable owner occupation and the economy , York, Joseph Rowntree Foundation.
  • Meen, G. and Andrew, A. (1998), On the aggregate housing market: implications of labour market change, Scottish Journal of Political Economy , 45(4), pp. 393-419.
  • National Australia Bank, (2001), Economic Overview , API Seminar Adelaide, South Australia, April 2001.
  • Percival, R. (1998), Changing Housing Expenditure, Tenure Trends & Household Incomes in Australia 1975-76 to 1997 , NATSEM Discussion Paper No. 28, Canberra.
  • Spoehr, J. (2001), A Casual Approach, The Adelaide Advertiser , 4 January 2001.