The PwC/Property Council Retirement Census is now in it’s eight consecutive year. This is the largest aggregate data set on retirement villages in Australia.
As an industry, we know that when a resident enters your community they are choosing to do so because they know that they will be supported in a purpose-built, age-friendly, community environment.
This is being reflected on paper. The 2021 Snapshot Report tells us that the average age of current residents is 81 years and they’re staying, on average, for eight to nine years.
This is significant, given that the average age of entry is 75 years of age.
It is even more significant that when we reflect on the results from the 2017 Snapshot Report the average age of residents was then 80 years and people were, on average, staying for seven years.
This is a big change over the last few years, and we think we know why. Home care and the infrastructure to support a healthy ageing process and the built-form outcomes are having a significant influence.
Coupled with the villages having more sophisticated assistive technology, e.g., monitoring and alarm systems or inhouse communication platforms, we are likely to see this average number continuing to increase.
These outcomes are not a surprise and reflect what was outlined in research commissioned by the Retirement Living Council in 2014.
This research demonstrated that retirement village residents enter aged care on average five years later than those going from a family home.
With the obvious results reflected in the current and previous PwC/Property Council Retirement Census results, these communities are allowing people to live independently for longer.
The 2021 Snapshot Report gives us our clearest picture yet – making the move to a retirement community means an enjoyable, secure and healthy retirement.