Retirement Living Seniors’ Market Outlook
The Property Council’s first Retirement Living event for 2019 - The Next Chapter: Seniors’ Housing Market Outlook was held on Thursday 14 March at MinterEllison’s office.
Tony Massaro, Partner, Real Estate Advisory – PwC provided a presentation covering the national and Queensland specific data contained in the PwC/Property Council Retirement Census. Tony highlighted that vertical and combination villages now account for 30% of new villages currently under development, village facilities are becoming more extensive, and there is a significant pipeline of new units mooted to come on to the market over the next four years.
Following Tony’s presentation, guests heard from Ben Myers, Executive Director – Retirement Living Council. Ben outlined the work that has been undertaken by the Retirement Living Council over the last 18 months. Initially the work stream was in reaction to a Four Corners media story, however, it has now turned to a customer-focused future with the production of ‘A Wise Move’ campaign, the release of the Retirement Living Code of Conduct in December 2018, and more recently the draft ARVAS Accreditation standards.
Greg Little, Chief Executive Officer – The Village Retirement Group, joined Tony and Ben for a panel discussion that was moderated by Kim Teudt, General Manager Retirement Living – BlueCare, and Chair of the Property Council’s Queensland Retirement Living Committee. Greg provided his thoughts on the housing and retirement living market in South East Queensland, and The Village Retirement Group’s development pipeline for year ahead. The panel then discussed a range of topics, including planning constraints, the impact of the Queensland Government’s buyback amendments and market predictions for the year ahead.
The Property Council would like to thank Tony, Ben, Greg and Kim for taking the time to discuss the outlook for the retirement living industry for the year ahead. Thanks also to our host MinterEllison.
Our next event will be the Queensland Retirement Living Conference: A New Lease of Life, to be held on Thursday 2 May 2019. At the conference we will cover the topics that are shaping the industry and hear from our national retirement living leaders. To register for the for the event click here.
Photos from the event can be found here.