There are significant ongoing reviews that are putting Retirement Village Acts in four states under the microscope.
Some of these processes to date have been very long-winded, and we see this as a result of strong advocacy from the Property Council of Australia and government’s understanding that things need to be done right.
Ensuring that these review processes have sensible and fair outcomes that won’t impact the ongoing viability of the retirement village sector and will provide a strong seniors housing sector for older Australians across the country has always been our priority.
Queensland
The Queensland Government has released the final report of an independent review into exit entitlements, which was completed in late 2020. It has also published its response to the final report’s recommendations.
There is a significant consumer protection focus that is evident in the report that has been released, and the majority of the recommendations that have been made public are to be taken as a given and there will be little to no opportunity to change government’s stance on these requirements.
We are continuing to work with our Queensland membership and relevant stakeholders on this ongoing process.
South Australia
The South Australian election has seen a change in government, having run a successful campaign based around the reported strain South Australia’s health system. We are beginning to engage with this new government as they get their feet under the table.
Retirement living is uniquely placed to make a compelling case to government that good planning and sensible regulation will alleviate significant strain on the state’s health system. This is no secret to industry, and we are ensuring that this fact is conveyed effectively.
Western Australia
This has been a lengthy review, and there has been significant work by the Property Council in Western Australia.
We are keen to continue the ongoing work with government in the west, however we are unable to provide a concrete timeline on when this review process will begin to finalise as of yet. It is important to note that the WA Housing Strategy 2020-2030 reports that there is a lack of housing diversity in WA, with a system struggling to keep up to pace with changing demands and conditions.
One of the key drivers of this lag is WA’s ageing population. The WA Ageing with Choice Report projected the number of people in WA aged 65 or over to grow by 40 per cent, which is more than 0,000 people by 2026.
We are keen to continue working with the WA Government to ensure that they can provide an environment that will allow the retirement living industry to prosper.
Victoria
There has been productive engagement with the Department of Consumer Affairs Victoria throughout 2022, marked by consistent invitations for consultation on the ongoing review.
The engagement with the Residents of Retirement Villages Victoria has also been positive.
It is important to maintain a healthy retirement living sector in Victoria and provide a sustainable and adequate pipeline of seniors housing.