Powered by momentummedia
nestegg logo
Powered by momentummedia
nestegg logo
nestegg logo

Invest

‘Silver tsunami’ to hit Aussie property

By Reporter · June 22 2018
Reading:
egg
egg
egg

Invest

‘Silver tsunami’ to hit Aussie property

By Reporter
June 22 2018
Reading:
egg
egg
egg
Tsunami, Aussie property

‘Silver tsunami’ to hit Aussie property

author image
By Reporter · June 22 2018
Reading:
egg
egg
egg
Tsunami, Aussie property

Nearly 4 million Australians are 65 or older, so governments must do a “better job” of planning for the future, the Property Council of Australia has said.

According to the Property Council’s latest Retirement Living Planning Report Card, carried out by Urbis, state and territory governments must increase the availability of land, improve the alignment of accommodation with older Australians’ needs, elevate the importance of retirement living planning in planning schemes and support more commercially viable developments.

The Property Council said these steps were necessary to deliver better products for older Australians.

Warning that Australia is at risk of a “silver tsunami” as the number of people aged 65 and older grows at its fastest rate yet, executive director at the Property Council Ben Myers said it’s “vital” that an appropriate level of suitable accommodation is provided for older Australians.

“The Retirement Living Planning Report Card shows that our states, together with local governments, can provide a more strategic role in ensuring there is land available for forms of seniors housing, like retirement villages and other independent living communities,” Mr Myers said.

Advertisement
Advertisement

“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 said retirees would see huge benefits from specific policies and targets, while Urbis associate director and author of the report, Kylie Newcombe, said all states scored poorly on planning systems.

“We need to switch the mindset from planning as a barrier, to planning as an enabler,” she said.

“Common hurdles to developing seniors housing are the ongoing competition for land, historic zoning and height restrictions, and a general lack of understanding of the market’s needs by authorities.

“Ideally, there would be a more flexible approach that is tailored to what seniors need and want.”

‘Silver tsunami’ to hit Aussie property
Tsunami, Aussie property
nestegg logo

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates
Rate the article

Join the nestegg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

Your email address will be shared with nestegg and subject to our Privacy Policy

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Nest Egg.

Read more

From the web

Recommended by Spike Native Network

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.