One of our top priorities is re-calibrating age pension rules, to allow pensioners to unlock home equity and downsize if they wish to - without their pension being cut.
Retirement villages support the universal desire of older Australians to stay independent and engaged in the community.
Just as governments plan for diverse community needs such as schools, hospitals and public transport, governments need smarter land use policies that enable more retirement villages to be built.
Millions of dollars for operators have been saved on village acquisitions and capital gains through the removal of a double taxation threat and a change to make resident capital growth payments tax deductible.
To ensure retirement village manager skills and capabilities are consistently high, in 2015 the Property Council developed and launched the Village Management Industry Diploma. The Diploma is a dedicated training course for managers which, for the first time, recognises and develops their diverse skillsets in customer service, budget management, compliance, human resources, to help them effectively manage their village communities.
To remedy a lack of data about baseline information or trends in retirement living, the Property Council has partnered with PwC to create the PwC/Property Council Retirement Census, launched in 2015.The Census will become the touchstone for domestic and international investors, featuring data on average length of tenancy, age of entry, finance and payment models, entry prices and much more.
The Property Council commissioned research, which for the first time modelled the economic value of the retirement living sector and the savings to government delivered by the care and services on tap in retirement villages; this is just part of a research agenda that to date has encompassed planning reform, supporting residents with dementia, and quantifying the savings to aged care and hospital budgets as a result of the retirement village sector.
Through the reach of the Property Council, productive relationships have been built with relevant ministers, government departments and backbenchers at a state and federal level to ensure the voice of the retirement living sector is heard and understood.
The Property Council is committed to showcasing positive initiatives and supporting the next generation of leaders through running the sector’s only two national award programs: the Manager of the Year and Rising Generation Award. Bringing the sector together, the National Retirement Living Summit hosts hundreds of delegates from the industry annually, acting as a forum to share knowledge and create networks.
The Property Council created and supports the Lifemark Village Scheme, an independent accreditation pathway for villages to achieve and sustain quality in all aspects of their operation and management, to ensure residents have peace of mind about their village experience.
Retirement Living Industry contributes nearly $3 billion to Australian GDP annually
184,000 Australians live in retirement villages = 5.7% of the over 65 population
Services offered at retirement villages generate more than $2 billion in public health savings annually
Sector growth has been independently measured at 7.5% per annum