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The growth of this demographic segment of the market has arisen from the confluence of three major factors: The Post WW2 Baby Boom, a drop in the Birth-rate and the increase in longevity
The NZ population in 1940 was around 1.6 million, having taken 10 years to increase by 100,000. By 1950 this had risen to 2.0 million and in 1960 the population was almost 2.4 million – an increase of 50% in only twenty years
In 1960 the birth-rate was just over 4 children per woman. By 1980 this had halved to 2
Average age of the population:
In 1970 the average age was 25.6 years, the lowest on record. Since then it has climbed every year. Today it is 37.5 and in 2040 it will be 42
According to the 2013 census (total population 4.25 million):
50-55 years 300,000
55-60 years 260,200
60-65 years 233,000
65+ years 607,000
Total 1,400,000 (33% of NZ’s population). This is our sector of operation
The number of people aged 50-69 years rose to 989,364, an increase of 21.5 percent since 2006. People in this age range made up 23.3 percent of the population in 2013, compared with 20.2 percent in 2006.
All five-year age groups within this age range showed an increase, particularly those aged 65-69 years, with a 32 percent increase, and those aged 60-64 years, with a 29.8 percent increase.
At the same time, this is a very affluent segment with more than 70% living mortgage free!