Retirement homes are forecast to “lead the way” to solving the housing crisis, with Logan’s retirement-age residents making up almost 20% of the city’s population.
The new survey from the Property Council shows the retirement-living industry is set to see major construction activity over the next 12 months.
This is the highest since December 2021.
Outperforming other sub-sectors, the retirement living industry is predicted to outperform the residential, office, retail and hotel sectors combined.
Retirement Living Council executive director Daniel Gannon said retirement communities should be included in governments’ approach to reaching housing targets.
“The Master Builders Association (MBA) only this week forecast that the Australian Government will fall short of its target by 112,675 homes, but there’s a silver lining to this scenario,” Mr Gannon said.
“In order to maintain existing market demand, the retirement living industry requires 67,000 units to be built by 2030.
“This would represent 59 per cent of the gap identified by the MBA, meaning age-friendly communities can help the government solve Australia’s housing supply problem.”
He said more age-friendly housing would keep people “out of hospital”.
“There is still much uncertainty across all property sub-sectors, with construction prices, materials and labour continuing to drive uncertainty,” Mr Gannon said.
“Governments need to better understand that retirement villages across the country save the federal government almost a billion dollars every year as Australia’s population continues to age.”
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