Making Retirement Villages the Right Choice

The first Queensland ‘Retirement Living Series’ breakfast for 2016 saw three industry experts provide their insights on the enduring challenge to make retirement villages the right choice for a greater proportion of the market.

Darrell Price, Associate Director – Corporate Finance – Grant Thornton, provided an overview of the latest industry trends and the hurdles to future growth. The number of new sites that will be required to meet future demand for age appropriate accommodation is significant. If the current penetration rate remains steady to 2030, there will be need to be a 64% increase in sites. If the market share increases to 12% there will need to be a 208% increase in sites.

Igor Merkin, General Manager Operation – Retirement Living – Stockland, described the drivers needed to increase the appeal of the retirement living sector. Igor outlined that the success of the sector depended on making the product appropriate, providing positive and clear information for potential and existing residents, and ensuring the strong supply of new and appropriate sites.

Stig Andersen, Chief Strategy Officer – IRT Group, outlined the importance of creating a diverse product that would attract the remaining 94% of the market who are not currently using retirement villages. IRT is focusing on building communities that enable ageing in place, active urban living environments and niche market offerings while recognising that affordability is key to attracting new residents.

Following the presentations Aileen Stewart, Regional Manager – Stockland & Chair of the Qld Retirement Living Committee, moderated an in-depth audience question and answer session.

The Property Council thanks the speakers, moderator and event hosts Minter Ellison for their generous support.

Photos from the breakfast can be found here.

Event host: