A new survey of 6,500 people, including residents already in retirement living, potential residents and those who would not consider retirement living, found that 30 per cent wanted co-located sites where aged care and retirement living accommodation are built side by side.
16 per cent prefer a rent-based model, a statistic even higher amongst low-income households. Rentals are pitched at people who are on the age pension and are mainly in regional areas. The listed providers Eureka and Ingenia Gardens are major players.
Catalyst Research’s Catalyst Report found that:
- Most want to stay at home but a large percentage will consider seniors’ or retirement living;
- Australians are concerned about contract complexity and how villages are run;
- Baby boomers want more diverse retirement options; and
- Retirement living should be used to alleviate housing shortage.
Triggers for over 60s to reconsider their future accommodation include the house and garden becoming “too much” and the opportunity to cash in on the family home.
“Whilst most would prefer to stay at home and potentially access home care as they age, 42 per cent would consider the retirement living option. Fewer prioritise retirement living over staying at home or buying a smaller property, but the study points to strong growth compared with the six per cent currently living in over-60s properties reported in the 2021 census,” said Catalyst Research.
“Despite this positive outlook, concerns are expressed over poorly run villages (53 per cent) and contract complexity (38 per cent).”
Respondents were asked about Communities of the Future – retirement villages that could cater for intergenerational living.
“Some people want GPs, a pharmacy, and a childcare centre to help facilitate employment at the site, offering a benefit for workers,” offers Kevin McCreton, Catalyst Research managing director.
“Baby boomers are more likely to want a wider range of facilities and services than previous generations.”
Pity the poor operators – they can never rest on their laurels…
