Objective:The Adult Hope Scale (AHS) is a widely used measure of hope and is reported to contain two distinct but interrelated constructs of agency (motivation to achieve goals) and pathways (planning routes to goals). Hope is thought to play a key role in the wellbeing of older people and while the AHS has been validated in young/middle-aged adults, the factor structure remains to be tested in older adults. Method:Using computer-assisted personal communication, the AHS was completed by 1454 older Australians (726 F, age (mean (sd)) = 66.4 (5.81) y, range 55-84 y) stratified according to gender, location (metropolitan vs non-metropolitan), retirement status (yes/no) and age (55-65 vs 65 + y). Dimensionality was tested by (i) bifactor modelling (one-factor, two-factor and a bifactor model with a general factor, Hope, and two specific factors, Agency and Pathways) and (ii) exploratory graph analysis (which uses community detection algorithms to cluster variables into factors). Cross-gender invariance was also tested. Hope scores were compared between demographics and wellbeing (i.e. WHO-5 mental wellbeing and positive/negative coping questionnaire) groupings. Results:Both bifactor modelling and exploratory graph analysis reveal that the AHS is unidimensional. Gender was shown to be invariant. Hope scores were comparable between demographic groupings, but higher scores were observed in older adults with higher mental wellbeing and positive coping with effect sizes in the small to medium range. Conclusions:This study confirms that the AHS is a unidimensional scale and can be used to reliably measure hope in older Australian men and women.

This paper uses the Household, Income and Labour Dynamics in Australia (HILDA) data from 2001 to 2022 to examine the relationship between individual financial behaviours and mental health. Two distinct types of financial behaviours (savings and debt) and their relationship with mental health (as measured by Mental Health Inventory-5) are considered over several annual waves. We examine causality between the two variables utilising an instrumental variable approach and find that stable financial behaviour significantly improves the mental health of individuals. Specifically, maintaining regular savings habits and making timely payments on credit card bills have a positive impact on the mental health of individuals. Furthermore, the impact of savings behaviour on mental health is stronger for men than women. Our results are robust to alternative measures of subjective wellbeing and estimation techniques. The findings from this study have substantial policy implications, indicating that stable financial habits can significantly contribute to improving mental health, which in turn can lead to higher productivity and employment.

This AHURI research examines how governments can encourage small-scale private investors to provide affordable rental housing. It finds that landlords who follow the positively geared, long-term hold investment (LTHI) model are most likely to be part of affordable housing schemes.The LTHI landlords invest on the basis of positive cashflow earning reliable rental income. In general, they purchase cheaper housing in lower value locations and seek to own their investment property outright by retirement. LTHIs landlords can provide a source of affordable rental housing, but do not tend to lead the creation of new stock.The landlords will participate in affordable housing schemes that maximise the potential for a positive cashflow, and not those based on financial schemes such as negative gearing and capital gains tax concessions. It is important to index rental increases to market rates so that investors who lock-in to long-term schemes are not disincentivised.Focus groups with small-scale landlords who lease their properties to social housing providers (SHPs) found the landlords were unanimous in their support for headlease programs. The advantages for landlords included:- guaranteed rental payments provided cashflow security—such rental guarantees made investors 12 per cent more likely to participate in a scheme- no loss of rent due to vacancy and no need to advertise for new tenants- guaranteed make-good provisions gave confidence that the property would be returned in original condition- reduced administration demands provided peace of mind and a ‘hands free’ approach.

Abstract The physical and societal characteristics of home have been established as important in influencing the health and wellbeing of older adults, yet these have rarely been explored together. There is also limited research into variation across age groups, with older adults often examined as a homogenous group of those 65 years and over. This study advances the knowledge base by using the concept of person–environment (P-E) fit to analyse differences in personal and home environment (physical and societal) characteristics between young-old (65–74 years) and old-old (75 and above) age groups, and to assess how these characteristics influence their self-perceived health. This cross-sectional study draws upon survey data from 1,999 older adult participants from the Australian Housing Conditions Dataset. Descriptive statistics and inferential analysis were used to assess for significant differences between age groups and a binomial logistic regression was utilised to examine influences on health. The analysis found that the factors which influence health varies appreciably between age groups. For the young-old financial strain, being on the fixed-income pension and hypertension were important contributing factors, in contrast for the old-old gender (being male), having depression and the home being modified for disability were key influences. For both age groups heart disease was a contributing factor to perceived health. The results indicate the important contribution to knowledge of incorporating a wide range of person and environment characteristics when exploring P-E fit for older adults. The inclusion of societal aspects, such as financial strain, fixed-income pension, tenure and access to community aged care services when exploring influences on health, arises as a key conclusion of the study. In terms of impact, this research is significant given rising inequalities globally and specifically in the Australian context, the need for policy measures to address income inequality, and its health and social implications for older households.

The current study investigated the association between psychological factors and financial behaviour during the COVID-19 pandemic in older people. Older people were chosen compared to other age groups because of the relatively greater impact in this age group of suboptimal financial decisions on future financial wellbeing. We hypothesised that the psychological factors facilitating general wellbeing during the COVID-I9 pandemic, i.e., positive mental wellbeing, hope, and positive coping, will have positive effects on financial behaviour. Based on telephone interviews, 1501 older Australians (Men = 750 and Women = 751; 55-64y = 630; > 65y = 871) completed an omnibus questionnaire examining coping, hope, mental wellbeing, and financial behaviour. Data was analysed using logistic regression and an ordinary and two-stage least square frameworks. Analyses revealed that the psychological factors identified as facilitating general wellbeing during the COVID-I9 pandemic also facilitated positive financial behaviour with hope and mental wellbeing emerging as significant determinants. Based on weightings from principal component analysis, one item each from the hope and mental wellbeing scale with eigenvalues > 1 were found to be robust predictors of positive financial behaviours. In conclusion, the findings support the assumption that the psychological factors associated with general wellbeing during the COVID-19 pandemic are also associated with positive financial behaviour. They further raise the possibility that single hope and positive mental well-being items can also be used to monitor psychological health and predict financial behaviour in older people and, in particular, at times of crisis. The latter may be useful measures for government to monitor psychological and financial wellbeing and inform policy for supporting older people at times of crisis.

The aim of the present study was to explore the impact of the COVID‐19 pandemic on the financial well‐being of older Australian retirees.

Genre theory allows us to examine texts that are written for a specific purpose. A non-fictional genre is similar to other genres such as those for films and novels, and genre theory: (i) categorises the elements of the genre; and (ii) sets up conventions and expectations for readers (Bhatia, 1997). The four elements of a genre are the characters, the setting, the plot and the story. The banking financial product literature is a particular genre of non-fictional written communication, providing descriptions of complex financial products that can affect people's lives for many years come. We extracted excerpts from the banking financial product literature which were used to interview 100 older banking customers. We found that all four elements of the genre, the characters, the setting, the plot and the story, failed its audience. To remedy this situation we contribute to practice by designing a template that can be used by writers of the genre. We also suggest using metaphors and synonyms, and argue that readers of the genre should be asked to provide feedback on drafts as part of a quality assurance process. Only then will the genre meet its readers’ expectations and sound financial decisions will be made for a better financial future for us all.

The home care package (HCP) scheme provides funds to eligible older Australians for social, personal and clinical care services, and aims to assist people to age in-home. Uncorroborated evidence suggests older Australians rely on health professionals - especially general practitioners - to prompt HCP assessments, choose service providers and manage HCP funds thereafter. This was confirmed in a survey involving 502 older Australians aged >65years receiving HCP funds. As more Australians survive to older age, further research is needed to establish with general practitioners their needs regarding the delivery of in-home care information, clinic practice resources, trainee education and continuing professional development.

This research investigates the potential of alternative housing models to increase the supply of affordable housing for older Australians and the role alternative financing schemes could play in expanding those options.A survey of industry stakeholders shows almost 75 per cent reported that the housing needs of lower income older people (55+) in the jurisdiction where they were based are ‘not well’ or ‘not at all well’ met. Participants said relying too heavily on the private rental sector to house older lower income people was problematic, and one of the main reasons why alternative affordable housing options are urgently needed.The research identified seven housing models that best represented different combinations of attributes suitable for older households and that could benefit from further research: using mixed use apartment building owned by a state housing authority (rental); cooperative housing on land owned by a community housing provider (rental); communal housing in a two-storey building owned by a community housing provider (rental); transportable home on vacant public land (rental); shared equity home in the outer suburbs of a capital city (ownership); dual key property in the outer suburbs of a capital city (ownership); and village-style housing (rental).The models having the greatest potential to better meet people’s needs are:cohousingintegrated mixed-use developmentsmodular-style manufactured housing utilising vacant landlow-rise medium density developmentreforms to the private rental sector to better protect older tenants.

PurposeThe purpose of this paper is to first explore whether Australia and the main metropolitan areas demonstrate significant differences in tenure and property type between generational groups. Second, whether the millennial generation is more likely to rent rather than own. Third, if such variation in tenure and property type by millennials is one of individual choice and lifestyle or the impact of housing market inefficiencies.Design/methodology/approachThis paper employs a comparative research approach using secondary data from the Australian Bureau of Statistics (ABS) to consider housing tenure and type distributions across generations as well as through cross-city analysis.FindingsThe results show that home ownership is still the dominant tenure in Australia, but private rental is of increasing significance, becoming the tenure of choice for Millennials. Owner occupation is shown to remain and high and stable levels for older generations and while lower in percentage terms for Generation X; this generation exhibits the highest growth rate for ownership. Significant differences are shown in tenure patterns across Australia.Originality/valueThe significance of this paper is the focus on the analysis of generational differences in housing tenure and type, initially for Australia and subsequently by major metropolitan areas over three inter-census periods (2006, 2011 and 2016). It enhances the understanding of how policies favouring ageing in place can contradict other policies on housing affordability with specific impact on Millennials as different generations are respectively unequally locked-out and locked-in to housing wealth.

Electroplated composite Au/SiO2 coatings on a nickel substrate have been produced by dispersing an emulsion of silica nanoparticles (20 nm in diameter) in an industrial hard-gold bath. The tribological behaviour of the Au/SiO2 coatings with different SiO2 content were investigated under sliding conditions against an alumina counterpart at different loads and sliding velocities. The tribological induced transformation of the coated surfaces were analysed using 3D-profilometry, scanning electron microscopy (SEM), focused-ion beam (FIB) cross sectioning and Auger electron epectroscopy (AES). The composite coatings provide higher hardness and ten-fold longer lubricating lifetime compared to the original hard gold coating. Hardness was identified as a key factor reducing the adhesive component of friction and increasing the resistance of gold against smearing. These effects allow to postpone the exposure of the nickel substrate and thus the loss of the self-lubricating character of the coating.

This research was initiated in response to an expressed need amongst policy makers for a better understanding of both the operation of the SDA program and the attitudes of industry to investment and participation in that program. The research builds a deeper understanding of Australia’s National Disability Insurance Scheme (NDIS), established ‘to provide reasonable and necessary supports to people with a permanent and significant disability’ (NDIA c. 2016). The NDIS was developed due to documented inadequacies in support provision for Australians with disability, which meant that many people, especially those on low incomes, lacked access to the level of funding, services, housing and support required for them to live a decent life (Productivity Commission 2011; Hinton 2006).

Purpose The purpose of this paper is to explore older people’s intention to relocate from their primary homes. The study also seeks to understand the policy implications that such intentions may have. Design/methodology/approach This study employs a survey-based design via computer-aided telephone interviews (CATI). The CATI survey was employed to gather information on the behaviour of older people and whether differences exist by gender, age, health immigration status and financial knowledge. The survey-based design is triangulated with the literature on this topic area and policy issues. Findings The findings of the study suggest amongst others, that older South Australians overwhelmingly and significantly do not intend to move from their primary home and are content to age in place. This is particularly true as people reach the older stages of life. Originality/value The study enhances the understanding of the decision-making environment that older people are exposed to in contemplating relocation from the primary home. More specifically, it shows that factors stated in the literature that deemed to be of importance in the decision to relocate, has no significance in this study and that ageing in place should be used as a policy base.

This study examined the Specialist Disability Accommodation (SDA) program and the attitudes of industry to investment and participation in that program. It questioned developers, investors, housing providers, prospective tenants and governments on how the SDA program will generate new supply that meets the needs and preferences of people with disability.

Ageing populations in the Western World over the last few decades have necessitated the development of financial products to assist older people face the challenges of ageing. One such product is the reverse mortgage where homeowners unlock the equity in their residential property through a mortgage loan, secured over the property. These loans normally have no mortgage payments and are aimed at an older demographic. Such mortgages have been increasing in popularity in the United States and the United Kingdom, but growth in Australia's reverse mortgage market has been slow and the majority of financial institutions that once offered such mortgages have left the market. The purpose of this article is to explore reasons for this observation. To achieve this purpose, 31 people aged 65 and older were interviewed about their views on reverse mortgage and analysed using nVivo. Analysis showed that reverse mortgages are unpopular due to strongly negative views about the product itself and perceived the risks associated with them due to the debt and potential loss of assets as well as high interest and charges. While some participants would not enter a reverse mortgage due to a desire to pass on an estate to children, others were ambivalent about this. While this negativity may be overcome through a redesign aimed toward reducing these perceived risks, inherent characteristics as a debt instrument suggest that reverse mortgages are unlikely to be attractive, to the current generation of people aged over 65.

Purpose - The purpose of this paper is to determine the profile of the typical online fractional residential property investor in Australia. This study also seeks to understand the motives for engaging with and investing in alternative residential property investments. Design/methodology/approach - This study employs a survey-based design via an online questionnaire to gather information on investor age, gender, type, education levels, time horizons and investment history and risk and return expectations. It also gathers information regarding investors' financial literacy including tax implications of fractional property investment. Findings - The findings of this study suggest amongst others, that fractional property investors tend to be younger, although the platform also attracts older investors including older females. The study also found that investors do not select alternative investment platforms in anticipation of super-normal investment returns. Return expectations are realistic and are based on a balance between capital growth and income. Practical implications - This study indicates that alternative investment platforms lowers the barriers of entry into residential property for first time investors. It therefore creates opportunities to allow many first time individual investors to invest in property, often as an alternative to bank savings or investing in the stock market. Originality/value - This study enhances our understanding of the influence of alternative investment platforms on investment decision-making. More specifically, it contrasts fractional property investment with more traditional investment opportunities to understand the motives of investors for diversifying into online investment vehicles.

Purpose - The purpose of this study is to investigate the perceptions of property investors of the risks and returns associated with property crowdfunding as an investment vehicle. The study contributes to the understanding of alternative property investment vehicles and how it is perceived by investors. Design/methodology/approach - The study focusses on investor perceptions in using property crowdfunding as an investment vehicle and follows a survey-based design. A questionnaire was finalised after the completion of a pilot study and was distributed to existing property crowdfunding investors via email. Inferential statistical measures were used. Findings - The results show, to an extent, similarities to general equity-based crowdfunding studies. However, the uniqueness of property crowdfunding as an investment vehicle may explain the insignificance of the results when related to other studies. Overall, the property crowdfunding investor seems to present cautious behaviour with a conservative perception of property crowdfunding as an investment vehicle. Practical implications - It is recommended that property crowdfunding platforms present prospective investors with more formal regulation of the property crowdfunding industry. Such a regulatory framework may lessen the current level of uncertainty presented by investors. Originality/value - The study enhances the understanding of the role of property crowdfunding as an alternative investment vehicle in Australia. More importantly, it went some way towards enhancing the understanding of how investors perceive and behave vis-a-vis property crowdfunding as an investment vehicle.