Retirement communities key to meeting Australia's housing targets, it says
The Retirement Living Council (RLC) is advocating for the inclusion of retirement communities in the Australian government’s National Housing Accord, which aims to construct 1.2 million new homes by 2029.
Recently published figures from the Australian Bureau of Statistics indicate a significant demographic shift, with Australians aged between 75 and 79 years emerging as the fastest-growing group.
Daniel Gannon (pictured), executive director of the RLC, emphasised the necessity of incorporating retirement units, acknowledged as official dwellings by the ABS, into the government’s housing targets.
“The prime minister’s 1.2 million new homes target is an admirably ambitious one, but retirement communities can help achieve this lofty goal as Australia ages,” Gannon said. “With an annual growth rate of 6.7%, the 75- to 79-year-old age group significantly outpaces all other demographics with an overall growth rate of 2.5%.
“Between now and 2030, the retirement industry requires 67,000 homes to be built to meet existing levels of demand from older Australians. Of this amount, only 18,000 are currently planned. These 67,000 homes would represent 6% of the 1.2 million new homes target, meaning retirement communities can help the government solve Australia’s housing supply problem.”
Gannon also pointed out the potential economic benefits of retirement communities, referencing the “Better Housing for Better Health” report, which claims that retirement villages can save the Australian government nearly a billion dollars annually by reducing healthcare costs. This saving is attributed to the design of these communities, which minimises accidents such as trips and falls, leading to fewer GP visits, shorter hospital stays, and a delay in the need for aged care.
“Building better housing can lead to better health outcomes for consumers and governments alike, but we need to ensure regulatory, legislative and investment conditions are helping this ambition, not hindering it,” Gannon said.
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