Friday, April 12, 2024

Retirement Villages: The Housing ‘Secret Weapon’ Hiding In Plain Sight

Retirement villages: The housing ‘secret weapon’ hiding in plain sight

Australia is ageing, and this presents challenges around housing, care and affordability. This is more important than ever, given there are currently 2 million people over the age of 75 around the country, but by 2040, this cohort will increase to 3.4 million.

This means there will be an additional 1.4 million people over 75 within the next two decades looking for accommodation that prioritises care and support.

We know that housing supply is challenging today and so is the pressure on residential aged care – a sector that is often confused with retirement living. But our changing demographic outlook around Australia will make things even harder.

Importantly, through the Retirement Living Council’s (RLC) Better Housing for Better Health report, we now know that retirement villages across the country save the Commonwealth Government a billion dollars every year by delaying entry into taxpayer-funded aged care facilities.