The time to buy is now: Property Council warns of coming national shortage
The Property Council of Australia has released the results of their 2021 - and they've forecast a national shortage in affordable retirement living!
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22 November 2023
BaptistCare
| News
The Property Council of Australia has released the results of their 2021 - and they've forecast a national shortage in affordable retirement living!
Overall, it seems that:
- Many villages are nearing capacity
- Projected supply won’t meet the demand
- Less villages have a connected Aged Care
- People are moving in younger (and staying longer), with less re-sales available
- More villages are vertical (apartments only!) with fewer house/villa offerings…
What does this mean for you?
Well, naturally, everyone over the age of 55 is considering their retirement options.
Many are keen to take advantage of retirement living's supportive services, vibrant social scenes and premium access to health professionals.
We often hear from new residents about how planning in the present ensured they got the future they wanted! And it makes sense - if you don’t choose
now, you could be in a dangerous position – with minimal options - later. This shortage could be worse, and there’ll be no choices left.
With the data shown below, you’ll see: it’s essential to consider your options now.
Our Top 5 findings from the Property Council Censure:
#1: Many villages are nearing capacity
There’s no room at the inn! Or at least, there won’t be soon.
Many villages are almost full, with a high majority at 89% capacity. This means that existing villages may not have space for new residents in the near future!
Luckily, at Angus Bristow, we have 36 new homes under construction. Though 25% have already sold, there are still plenty of stylish and spacious new homes to choose from!
#2: The supply doesn’t meet the demand
There just aren’t enough homes to go around!
The planned development pipeline over the next three years was forecast to total only ~5,100 units. This was down from 10,500 units in 2020. So even though the 55+ population has grown, there won’t be enough homes to meet their needs.
That’s why expansions like Angus Bristow’s are so rare. You can join a well-reputed village without having to wait years for a re-sale!
#3: Aged Care is at a minimum
Support at every step? Statistics say it’s unlikely.
Less and fewer villages have a connected Aged Care centre, with only 26% offering support beyond in-home care services. Having an Aged Care option on-site or next door means that your community and routine don’t have to change, even if your needs do!
Angus Bristow is part of this small, unique group – offering a connection to Aged Care, and priority access to the Aged Care centre next door.
#4: People are moving in younger
Low-maintenance living in style? Why wouldn’t you start younger!
More and more people are moving into Retirement Villages while they’re younger – and staying longer. The average tenure of residents is 9 years. This means that re-sales are fewer and further between (though hopefully you won’t have to wait a decade for one!).
That’s why seizing the opportunity to enjoy a brand-new home is essential. While others have to wait (a long time) for a resale, you could choose an Angus Bristow home right off the plan – and move in the minute it’s ready!
#5: The only way is UP
Apartment life isn’t for all, but it may be all that’s on offer!
It seems ‘vertical villages’ are the priority, with over half of new developments opting for apartment blocks over house-like settings. And only 33% offering single level homes!
Angus Bristow is one of few new developments that aren’t offering an apartment building. Purchasing here, you’ll get a quiet, residential neighbourhood – enjoying all the bells and whistles of a stylish new home without a corporate-style skyscraper to boot!
Remember, numbers don’t lie. This shortage is a real situation – and it’s not decreasing any time soon!
That's why it's essential to consider your options now.
And, thankfully, Angus Bristow Village has brand new homes for you to choose from!
Yes, 36 new homes are being built for you - but 25% of them are already sold!
These villas are selling so quickly. We'd hate for you to miss out!
Book an appointment today, and we'll show you some of the best available homes in the Macarthur region.
Call Velvet on 1800 942 948 to visit our village.
We'll help you determine your needs and desires, ensuring you'll find a comfortable, secure, and enjoyable home for your next great adventure!