Life After Retirement

In the 1960’s the percentage of the population over 65 years old was 8.5%. In 2010, it is approximately 14% and by 2051 is expected to be between 26% – 30%!

At present there are approximately 160,000 or 5.25% or seniors living in retirement villages or 9% of people over 55.  This equates to around 8% of the seniors population.

Even with no change in demand, we would still need over 336,000 dwellings to be constructed in retirement communities over the next 40 years.

Based on the average size of a new retirement village of 100 – 120 units per village.  This could mean that 2800 new villages will need to be built.

However, with the growing desire for a lifestyle choice that delivers security, social interaction and freedom from the traditional family home, in addition to the increased senior population, this is more likely to equate to a penetration rate of 7.5% or a need in excess of 480,000 new dwellings.

If you have an interest in the retirement industry then keep tuned in to this website – more to come as the sector is under going enormous changes as alternatives to traditional retirement villages are being introduced.