The Retirement Living Council (RLC) welcomes the Federal Government’s release of the Intergenerational Report as an important opportunity to focus on age-friendly communities as a key part of housing Australia’s rapidly ageing population.
The report states that the number of Australians aged 65 and older will double in the next 40 years,
while the number of people aged 85 and older is set to triple, with these forecasted figures coming
as the country currently faces an ongoing housing crisis.
RLC Executive Director Daniel Gannon said it was important for governments across the country to
realise the valuable role retirement communities play in providing affordable housing options for
older Australians.
“Retirement communities already play an important social and affordable role within the housing
market, providing units that are on average 48 per cent cheaper than the median house price in the
same postcode,” said Mr Gannon.
“Encouraging and facilitating more seniors into retirement communities carries the added benefit
of freeing up traditional housing stock for singles, couples, new and growing families.
“If more seniors are living in age-friendly communities, there is also significant economic upside
for state and federal governments through reduced interaction with the health system and delayed
entry to aged care, while more houses become available in the traditional real estate market.
“Australia’s population is ageing, which means our three tiers of government need to address and
solve the challenges associated with housing this demographic cohort now, which would then help
ease the national housing crisis,” he said.
However, with the 2022 PwC/Property Council Retirement Census finding retirement villages are
effectively at capacity nationwide and with a supply pipeline of new stock slowing down, Mr
Gannon said focus needs to be on injecting supply into the market to meet growing demand.
“It’s been no secret that Australia’s population is ageing, but what is being done at local, state and
federal levels to prepare for this transition?” Mr Gannon said.
“We have a market which actually provides an affordable housing option when few other affordable
options remain, it’s effectively at full capacity, and yet barriers to building more are emerging.
“Given the decrease in the forecast supply pipeline and with legislative reviews that will affect the
sector currently underway in five separate states, we urge caution to policymakers.”
