Where are the retirement living hotspots?
The retirement living sector rates consistently in the Property Council / ANZ Property Industry Confidence Survey as one of the highest predicted growth markets of our industry.
With this in mind, it is no surprise that the Property Council’s final event in the 2014 Retirement Living series, titled; Too much demand – not enough supply, was a sell-out.
The breakfast featured a discussion of research commissioned by Brown Consulting and prepared by Urban Economics, which looks in detail at future hot spots for retirement living and age care development in south east Queensland, overlaid against current supply.
Brent Thomas, Executive General Manager – Brown Consulting presented some key findings from the research, which broke down the primary purchase considerations for developers and buyers, and compared this to current market supply.
The research clearly showed that there is a shortage of sites that meet the key demands of developers (large size, reasonable cost and favourable planning regulations) and buyers (proximity to shops, medical facilities and family). Brent summarised that this will likely lead to increased housing costs in more desirable areas, and greater competition between high-rise residential development, and retirement living development.
Kerrianne Bonwick-Meulman, Managing Director and Principal – Urban Economics then presented on the spatial trends in retirement living across the State. Kerrianne compared the trends in accommodation location for residents in three age brackets; 65-74, 75-84 and 85+ since 1991, and provided forecasts until 2031.
The results found a preference for the sea-change experience, while also highlighting Ripley and Greenbank as future areas for growth.
Finally, Scott Matthews, Project Manager – pdt architects provided a case study of Regis ‘The Pines’ Wynnum, a resort style aged care facility which has embraced the evolving needs of residents.
The breakfast also marked the announcement of the Queensland Retirement Villages Manger of the Year Award winner, sponsored by Programmed Property Services.
The Property Council is proud to announce that Jan Beutel, Manager of Nubeena, Crows Nest and Amaroo Villages was awarded the prestigious honour for 2014. Congratulations must also go to runner up, Mandy Julian, Manager of Carlyle Gardens.
We would like to thank our three speakers for taking their time to present, and take questions from the floor during the breakfast. Special thanks must also go to our venue hosts Minter Ellison.
Kindly Hosted By
Chris Mountford – Property Council of Australia, Victoria Donaghy – Minter Ellison Lawyers, Kerrianne Bonwick – Meulman – Urban Economics, Scott Matthews – pdt architects & Brent Thomas – Brown Consulting
Mandy Julian – Retire Australia, Jan Beutel – Churches of Christ Care, Andrew Graham & Shane Brotherton – Programmed Property Services
Brent Thomas – Brown Consulting, Kerrianne Bonwick – Meulman – Urban Economics & Scott Matthews – pdt architects