Retirement Villages/Living

Seniors Living Insight
Knight Frank
September 2017

Knight Franks latest look at retirement villages, aged care and manufactured housing. Underpinned by the baby boomer generation, the number of persons aged 65+ is set to almost double over the next two decades. To ensure future demand is met, the seniors living sector is experiencing significant policy reforms with the emphasis shifting towards home care. With a shortfall of seniors living accommodation across all industry subsectors, developers and operators have responded through the construction of new facilities and aggressive investment mandates.
As operators continue to search for scale to achieve operational efficiencies, further industry consolidation is expected to occur.

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Affordable, Accessible, Appropriate housing for older Australians
Gratten Institute
June 2017

John Daley’s speech to the Council of The Ageing conference on Housing for Senior Australians.

Some senior Australians face housing affordability challenges, but they are generally under less stress than other Australians. But there are storm clouds on the horizon.  Home ownership rates are falling for younger cohorts, while there is less social housing available.

There are also emerging issues for those who want to downsize and stay in the same suburb because planning laws are limiting the creation of suitable medium density housing in established suburbs.

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Delivering Home Care In Retirement Villages – A Guide For Operators
Retirement Living Council and Ansell Strategic
January 2017

The Australian aged care and retirement living sectors are currently undergoing substantial change as a result of an ageing population and evolving consumer preferences. Accelerating this change are legislative reforms in the provision of home care services that pave the way for greater consumer choice and improved efficiency. The retirement living sector is well placed to capitalise on these changes through the delivery of home care services in their villages. In light of this, the Retirement Living Council (a division of the Property Council of Australia) commissioned Ansell Strategic to produce this useful reference guide for the retirement living sector. Developed in consultation with retirement village operators and home care providers, this guide identifies home care delivery options in villages, as well as outlining the associated benefits and challenges operators may face.

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Delivering Home Care In Retirement Villages – Research Report For Retirement Village Home Care Analysis Project
Retirement Living Council and Ansell Strategic
January 2017

This report highlights the current care services and accommodation offerings available to older Australians in the context of the changing Australian demographics.  The Australian aged care sectors and retirement industry are currently undergoing legislative reforms as a result of an ageing population and evolving consumer preferences. In particular, there has been significant reform in the home care industry in response to the desire for older Australians to age in place. The retirement village sector is well placed to capitalise on these changes through the delivery of home care services in their villages.

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National Guide to Creating Simple and Effective Retirement Living Contracts
Retirement Living Council
November 2016

Retirement village contracts are sometimes criticised for being too complex – too long, confusing, or for containing ‘hidden traps’. As a result, it can be easy to lose sight of the fact that the retirement living sector is a vital and growing part of our urban fabric, providing service integrated housing to many older Australians. To reduce the confusion around contracts, village operators drawn from the Retirement Living Council (RLC) worked together with the RLC’s legal partner, Russell Kennedy Lawyers, to develop key elements of a good residence contract. These elements are set out in this National Guide. It has been created to assist retirement village operators with suggestions on structure and language for new contracts.

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2016 PwC/Property Council Retirement Census
PwC/Property Council
November 2016

The PwC/Property Council Retirement Census is the most comprehensive aggregated data source on retirement villages in Australia, covering the physical characteristics of villages, ownership details, business attributes and demographic data. The Census is based on data which was collected from Property Council retirement living operator members and other contributors and analysed by PwC.

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Retirement Village Residents’ Experiences  of Contracts and Outcomes: Pilot Project
National Ageing Research Institute and RRVV
February 2016

This document is a synopsis of results from a survey conducted in 2015 of a sample of current residents of retirement villages in Victoria. It was funded through a small grant from the Residents of Retirement Villages of Victoria (RRVV) Inc. The survey was undertaken by the National Ageing Research Institute (NARI). The research question which governed the survey’s design was:

What are the experiences of retirement village residents and their families of their contractual interactions with village owners and managers – including during the transition into the village, their residential experience and transition out of the village?

The survey consisted of a series of questions about residents’ and/or families’ experiences of:

  • The contract process
  • The outcomes of that process, including affordability, maintenance and repairs, and interactions with owners and managers, and
  • Disputes and the resolution of dispute processes (if applicable).

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Healthcare And Retirement Living Research And Forecast Report | 2016
Colliers
September 2016

As Australia  faces the future of an ageing population the Healthcare and Retirement Living sector will be heavily leant on.  Colliers’ report examines the key trends influencing healthcare, and its subsectors, across Australia.

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Seniors downsizing On Their Own Terms: Overcoming Planning, Legal And Policy Impediments To The Creation Of Alternative Retirement Communities
National Seniors

November 2015

This research aims to determine whether more seniors would choose to downsize if there was a greater variety of housing options available, particularly within existing communities. The research seeks to determine ‘what seniors want’ and assess new housing concepts, for example pocket communities, that are starting to emerge. The project then considers legal, planning and policy hurdles to realising these aspirations.

The research identifies several housing models available both nationally and internationally to either provide downsized accommodation options and/or support ageing seniors in some form of sheltered/supportive accommodation.

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A Long-Neglected Sector Finally Gets Investors’ Attention
Florence Chong – Business Spectator
September 2015

With too much capital chasing too few so-called “hard” assets, institutions have started scanning the long-neglected sector of retirement living for alternative investments. Retirement villages have been the least attractive segment of the broader residential market. As Florence Chong reports investors are opening their eyes to the potential of an oft-ignored segment of the broader residential market.

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2015 PwC/Property Council Retirement Census
PWC And Property Council
August 2015

The PwC/Property Council Retirement Census is the most comprehensive aggregated data source about retirement villages in Australia. The Census profiles the physical characteristics of villages, ownership details, business attributes (e.g. tenure, financial structure, operating overheads), and resident profiles (e.g. demographics, length of stay). It is comprised of rich data from big and small operators across the industry representing more than 50 000 homes in retirement villages in Australia. Key findings from the 2015 PwC/Property Council Retirement Census:

  • Two thirds of all village residents are female, with the largest demographic being single females (51 per cent) followed by couples (36 per cent) and single males (13 per cent);
  • The average resident enters a village at 74 years of age, the average age of residents is 81 and the average length of stay is 7 years;
  • The average 2 bedroom retirement village dwelling costs $385,000 (68 per cent of the cost of the median house price);
  • The average monthly service fee, covering the cost of common village facilities, services and staff, is $434 (just over 25 per cent of the monthly pension for full single pensioners); and
  • Villages have a very high occupancy rate of 91 per cent on average across the country.

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The 5 A’s Of Retirement Living – Towards Proactive Planning Policy
Property Council Of Australia And RPS
August 2015

Australia will face a seniors housing crisis without “urgent change” to state and local planning systems to enable the development of more retirement villages, according to new RPS research for the Property Council.

  • Almost 200 000 people – over 5% of senior Australians – live in retirement villages now. By 2025, the demand for retirement living accommodation is forecast to double.
  • Retirement villages generate $2.16 billion of savings annually by delaying the entry of residents to aged care facilities and ensuring fewer and shorter hospital stays.
  • The retirement village sector faces a range of challenges including the extra layers of complexity and costs which make it difficult to compete with mainstream residential developers on the open market for land.

Report author and RPS Regional Technical Director Désirée Houston-Jones said the study represented one of the most comprehensive reviews of the impacts of land use planning on retirement living development undertaken in Australia and the findings had raised major concerns about the future.

The RPS research recommends a suite of actions including setting retirement living housing targets, fast-tracked approvals and making retirement living a permissible development in in broader ranges of zones, to cope with the disproportionate increase in the over 65 population.

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Retirement Living Goes Full Service
Darragh O’Keeffe – Australian Ageing Agenda
April 2015

The traditional lines of demarcation between retirement living and aged care are eroding as operators seek to provide a range of health and aged services within their villages so they can meet resident preferences. AAA looks at the various models in action.

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Going Global International Healthcare And Senior Living Markets Presentation To LASA National Congress
October, 2014

Many countries across the globe are unprepared for ageing populations. These countries are now seeking to address their ageing population challenges and many look to Australia’s aged care system as a benchmark of quality healthcare. Australia’s reputation is based on a long history of aged care experience; world leading government legislative policy and funding, a well regulated accreditation framework, sound private sector funds management expertise, high education standards providing both preventative and clinical care to aged care qualifications, substantial investment in research and experienced firms. Australian capabilities in the seniors health and living industry span services, products, leading edge technologies, infrastructure, research and development, education and training in areas such as clinical neuroscience, cardiovascular conditions, oncology and assisted living.

Austrade’s Seniors Living and Health industry overview provides Australian exporters with information such as trends and opportunities, tariffs and regulations, basic marketing advice and also includes useful links and industry contacts.

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Seniors Housing And Retirement Living – The Next Wave
Aged & Community Services NSW & ACT Conference
October 2014

Retirement living is considered by many to be the next wave of growth in the midst of radical changes sweeping the aged care sector. This conference addressed topics such as the government’s position on the provision of affordable appropriate housing for seniors in NSW. Topics covered include research being undertaken on dementia in retirement villages, the effect of the federal budget on retirement villages, future prospects for affordable housing for seniors in Australia, interface with housing, interface with aged care, health and wellbeing, the latest consumer research and an innovative model of design and service.

Click below to download presentations by:

Retirement Village Design And Service Models: Positioning For Care
Deborah McKern, Clinical Care Coordinator, Autumn Lodge
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Interface Between Retirement Villages & Aged Care
James Underwood, Director, James Underwood & Associates
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Future Of Retirement Village Industry
Seniors Housing, 2013 Retirement Village Survey Results, Predictions
Mark McCrindle
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Investment Money Coming this Way
Richard Grayson, Senior Relationship Manager, ANZ Bank
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Dementia In Retirement Villages
Kylie Miskovski, Senior Research and Policy Officer, Alzheimer’s Australia NSW
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Housing Affordability
Lucy Burgmann, NSW Federation of Housing Associations Click here


Demand Analysis Of Housing For Older Australians
MacroPlan Dimasi
2014

Research finds that senior Australians are being forced out of inner and middle ring suburbs they have lived in for their whole lives, due to inadequate planning for retirement villages and other housing built to support independent living.

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Supporting People To Live Safely And Independently At Home: An Australian Pilot Program Feros Care November 2010
Telehealthcare
2014

Feros Care investigated Telehealthcare, and commenced a Pilot Program to determine the viability of deploying security, safety and health monitoring technologies in Client homes. The purpose of the Pilot Program was to determine whether Telehealthcare Technologies could assist Clients to remain living at home longer by:

  • Supporting and providing more continuous quality and targeted care of Clients in their homes; • Improving safety, independence and generally lowering the anxiety of Clients, Carers and families anxieties; and • Adding Telehealthcare services as operational and financially viable options for Feros Care Clients using Community Care Programs and services.

This report describes some of the experiences and key learnings from conducting the Pilot Program of Telehealthcare implementation by a small-medium Aged Care service provider, and has been prepared with the aim of sharing the experience with anyone with an interest in the Health and Aged Sectors.

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National Overview Of The Retirement Village Sector
Grant Thornton
2014

This report examines the contribution of the sector to the Australian and state economies, as well as quantifying savings to the public purse through retirement village residents entering (government funded) aged care later in life, and reducing strain on hospital and healthcare spending.

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