MORE VILLAGES TO AVOID ‘CRISIS’
New data has revealed an “imminent crisis” in the retirement housing sector, with occupancy levels at current facilities close to capacity.
The PwC/Property Council Retirement Census found an increasing number of older Australians were opting to live in a retirement village, with resort-style amenities, access to health professionals and extra cash from the sale of the family home among the reasons for the trend.
But retirement villages across Australia were close to their “practical capacity” of 93 per cent occupancy in 2016, with the Property Council warning that many seniors could be left out in the cold. Property Council of Australia Retirement Living executive director Ben Myers said urgent action was needed to encourage the development of new retirement villages in all major cities.
“Without significant improvements in state planning policy, many seniors won’t be able to access these benefits in coming years – we are facing an imminent capacity crisis,” he said, warning many private homes were not suitable for seniors to “age in place”.
Meanwhile, the census revealed Queensland performed better than other states in terms of affordability, with an “independent living unit” costing, on average, 77 per cent of the median house price in the Brisbane metro region.