Multigenerational living is growing in popularity with new analysis showing more families are open to the concept.

Research from AMP shows that as housing unaffordability and cost-of-living pressures continue, more than half of Australians (55%) say we should embrace multigenerational living.

Support for multigenerational living is strongest among younger Australians, with 68% of 20- to 39-year-olds in favour of the concept. Women are also more supportive than men (58% vs 52%).

The research also shows that almost 40% many younger Australians (20 to 39) are relying on a future inheritance to get into the property market.

AMP director of retirement, Ben Hillier, says many younger Australians are rethinking what the ‘Australian dream’ looks like.

“For many, support is no longer just about the ‘Bank of Mum and Dad’ – it’s about the ‘House of Mum and Dad’; with extended families open to sharing housing, costs and care in more practical ways,” he says.

According to the 2021 Census 335,000 households include three or more generations of adults living together, a 22% increase from 2016.