Housing crisis looms for our ageing population

Australia faces a seniors’ housing crisis without ‘urgent change’ to state and local planning systems, finds ‘The 5 A’s of Retirement Living’ report, commissioned by the Property Council of Australia.

The report, prepared by RPS Australia, warns that a shortage of retirement living places will mean taxpayers have to foot the bill for much higher aged care costs.

Retirement villages currently generate $2.16 billion of budget savings annually by delaying the entry of residents to aged care facilities and ensuring fewer and shorter hospital stays.

Villages also take a load off local infrastructure, the report finds. Small household sizes require less provision of sewerage and water; fewer cars reduce traffic and carpark demands; and onsite amenities at retirement villages often reduce the demand for ratepayer-funded libraries, community centres and sports facilities.

The research recommends a suite of actions including setting retirement living housing targets, fast-tracked approvals and making retirement living a permissible development in all residential zones.

“By 2025, the demand for retirement living accommodation for people aged over 65 years is expected to double. But at the current rate of development, there simply will not be enough supply of retirement communities to meet demand,” says Mary Wood, executive director – Retirement Living.

“Land use policy is the single most important lever that governments have to support the development of more retirement villages where they are needed,” Wood adds.

According to Désirée Houston-Jones, RPS Australia’s regional technical director, taxpayers will face higher aged care costs if retirement living developments are not supported by policy makers.

“Governments at all levels need to act quickly to facilitate more retirement villages in the locations where older Australians want to live,” Houston-Jones says.

Download The 5 A’s of Retirement Living.