The Property Council of Australia has forecasted a national shortage in affordable retirement living! Find out how this impacts you.
The research shows that:
- Many retirement villages are nearing capacity
- The projected supply won’t meet the demand
- Fewer villages have a connected Aged Care
- People are moving in younger (and staying longer), with fewer re-sales available
What does this mean for you?
Well, naturally, everyone over the age of 55 is considering their retirement options.
Many are keen to take advantage of retirement living’s supportive services, vibrant social scenes and premium access to health professionals.
We often hear from new residents that planning in the present ensured they got the future they wanted! And it makes sense – if you don’t choose now, you could be in a dangerous position – with minimal options – later. This shortage could be worse, and there’ll be no choices left.
With the data shown below, you’ll see that it’s essential to consider your options now.
Our Top 4 findings from the Property Council:
#1: Many villages are nearing capacity
There’s no room at the inn! Or at least, there won’t be soon.
Many villages are almost full, with a high majority at 89% capacity. This means that existing villages may not have space for new residents in the near future!
Luckily, at The Cunningham, we have 46 new apartments under construction.
#2: The supply doesn’t meet the demand
There just aren’t enough homes to go around!
Over the next three years, the planned development pipeline was forecast to total only ~5,100 units. This was down from 10,500 units in 2020. So even though the 55+ population has grown, there won’t be enough homes to meet their needs.
That’s why you can’t waste the opportunity of The Cunningham. Securing your apartment now means you won’t be missing out!
#3: Aged Care is at a minimum
Support at every step? Statistics say it’s unlikely.
Fewer villages have a connected Aged Care centre, with only 26% offering support beyond in-home care services. Having an Aged Care option on-site or next door means your community and routine don’t have to change, even if your needs do!
The Cunningham is part of this small, unique group – offering a connection to Aged Care and priority access to the Aged Care centre next door.
#4: People are moving in younger
Low-maintenance living in style? Why wouldn’t you start younger!
More and more people are moving into Retirement Villages while they’re younger – and staying longer. The average tenure of residents is 9 years. This means that re-sales are fewer and further between (though hopefully, you won’t have to wait a decade for one!).
That’s why seizing the opportunity to enjoy a brand-new home is essential. While others have to wait (a long time) for a resale, you could choose an apartment in The Cunningham right off the plan – and move in the minute it’s ready!
Remember, numbers don’t lie. This shortage is a real situation – and it’s not decreasing any time soon!
Call Ali on 1800 115 220 or email alison@thecunningham.org.au