Is the market ready for the "silver tsunami"?

By Kay Rivera | 27 Jun 2018

The Property Council of Australia is urging the government to do a better job in planning for older Australians’ homes, including retirement villages.

In its recent study, the council sparked awareness of the “silver tsunami” that is about to hit the country, and, incidentally, it is happening at a time when a large chunk of the population belongs to dwellers aged over 65.

The “Retirement Living Planning Report Card”, published by Urbis and commissioned by the Property Council of Australia, studied states and territories in relation to the effectivity of their plans for seniors housing. Here, South Australia was the highest performer.

“With more than 3.7 million Australians aged 65 and over, it’s vital that age appropriate housing options exist in all parts of our major cities to meet increased demand,” said Ben Myers, Retirement Living executive director.

The Report Card stated four key recommendations for reform of planning to deliver better results for the housing needs of older Australians. These include increasing land availability, supporting more commercially viable developments, improving alignment with market needs, and elevating retirement living to state importance in planning schemes.

Myers pointed out that the government can still improve in asserting its role in making sure that there are ample spaces for seniors housing, such as retirement villages and other independent living communities.

“Issues such as zoning and overly restrictive height controls can inhibit the redevelopment potential of existing communities to ensure the expectations of Australian retirees are met. Without changes to planning policy and improved awareness at council level, seniors may find their choices limited, and be more likely to be stuck in homes that reduce their ability to stay independent and healthy,” he revealed.

The report card’s findings reinforced the idea that current planning systems in the country need improvement. As a solution, Kylie Newcombe, Associate Director at Urbis and author of the report card, enjoins the people involved to “switch the mindset from planning as a barrier, to planning as an enabler.”


Related stories:
NSW Housing Budget "Requires Keen Management"
Apartment Market Sees Rise In Owner Occupiers


Top Suburbs : wentworthville , darlington , homebush , alderley , collingwood


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