Seniors save on housing | Australian Dealer Information

Recent information highlighted the affordability of models in retirement villages in comparison with Australia’s conventional housing market.

The 2023 PwC-Property Council Retirement Census revealed {that a} two-bedroom unit in a retirement village is, on common, 43% cheaper than houses in the identical postcode.

Vital price financial savings

The census indicated the common price for a retirement village unit is $559,000, in comparison with the $986,000 median home worth in the identical postcodes.

The Retirement Dwelling Council (RLC) confused the important position retirement villages play in offering inexpensive housing for older Australians.

“Retirement villages are an inexpensive housing resolution accessible to older Australians in an in any other case unaffordable housing market,” stated Daniel Gannon (pictured above), RLC government director.

Affect on housing market

Gannon additionally famous that these retirement communities profit youthful dwelling consumers.

“When an older individual or couple makes the choice to ‘rightsize’ into a house that’s higher suited to their ageing wants, they’re injecting a much bigger dwelling again into the marketplace for youthful Australians,” he stated.

Excessive occupancy and satisfaction

The census reported that retirement villages are working at practically full capability, with a 5% emptiness fee, and residents maintain operators in excessive regard with a nationwide internet promoter rating of +44.

“Within the midst of a housing disaster, retirement residing communities proceed to function an inexpensive housing possibility the place older Australians can thrive,” Aveo CEO Tony Randello stated.

“This implies governments have to get their skates on and truly begin planning for ageing populations – beginning with age-friendly housing,” he stated.

PwC Australia accomplice Meredith Chester famous the crucial demand for high-quality, accessible retirement residing choices because the inhabitants ages.

Associate Funminiyi Oduko famous that the panorama of retirement residing is quickly altering, with affordability remaining a key element of the sector in comparison with the residential housing market.

Retirement villages current a viable, cost-effective resolution in an in any other case difficult housing market, underscoring the necessity for continued help and planning to accommodate the rising ageing inhabitants.

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