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Calls to fix retirement living shortfalls

More needs to be done to address Australia’s shortage of retirement living options as demand surges for communal living in the wake of Covid-19, according to an industry specific report.

Calls to fix retirement living shortfalls

Friday, 23 April 2021

More needs to be done to address Australia’s shortage of retirement living options as demand surges for communal living in the wake of Covid-19, according to an industry specific report.

The PricewaterhouseCoopers (PwC) and Property Council Retirement Census report from 2020 showed retirement villages were at 87 per cent capacity last year, while planned development rates had dropped from a pipeline of 5000 units in 2019 to 3200 units in 2020.

PriceWaterhouseCoopers partner for real estate advisory Tony Massaro, who will be speaking next week at The Urban Developer’s Aged Care and Retirement Living vSummit, said the recent spike in demand meant the country could face a significant shortfall in accommodation in the medium term.

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