Number of Retirement Village Units in Australia to Double by 2021: Ernst & Young

BY 2021, Australia will have twice the number of retirement village units than it does now, according to a new report by advisory firm Ernst & Young.

EY Real Estate Advisory Partner Marcus Willison said a new study, based on population trends in Australia and New Zealand, suggests Australia’s stock of retirement village units will increase by about 60,000 to more than 128,000 by 2021.

He said “the ageing population trend within both Austalia and New Zealand will have a marked impact upon the growth of the retirement village industry, with the number of people aged 65 and over forecast to double and triple in both countries within the next 35 years.”

I knew australia was an aging population but i dont think i ever realised at what rate it was increasing. Crazy!!!


Daniel Kanoon
 
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that's baby boomers for ya

you have more than 4 million people born between 1946-1961, so they all will be reaching retirement age by 2021-2026

then you also got post-war increase in migration from Europe
 
Certain diversified property groups are investing heavily into retirement living because of the reasons highlighted above.

I reckon over the next 5 years we'll see a lot more growth in that part of the market.
 
My little 3 unit jobbie had to have 2 as "adaptable" dwellings. Its not Sepp-55, but still over half new developments in Pittwater have to cater to less mobile tennants. In fact, all three of mine do if you add a lift to the top floor unit, but overshadowing of the adjoining property meant I had to scrap it and adapt the townhouse to comply.

Should make it easy to let in years to come... And its an up market Northern Beaches development that will cater to the age at home affluent Boomer types. Chase the market where you can I reckon.

Cheers,
Michael
 
adaptable housing comes in three categories though....?

will be interesting to see if the larger spruikers try to sell "lease for life" or just straight out strata options.

i know BBs are NOT keen on LFL in general. wll, that's if they're PAYING for it, that is....:)
 
Hey if I'm not old but want to live in a retirement village could I? (Hypothetically) Since I'm 32 could they say 'no nick off, not old enough' and if so isn't that discrimination?

On a different note, what are some ways we could invest in the aging population?
 
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