Village DA applications are jumping says Jones Lang LaSalles Noral Rich
JLL tracks retirement and aged care development activity and has identified that in calendar 2012 a total of 148 Development Applications were lodged across Australia. However in the 32 weeks of 2013 that number has been doubled with 327 DAs lodged...
JLL tracks retirement and aged care development activity and has identified that in calendar 2012 a total of 148 Development Applications were lodged across Australia. However in the 32 weeks of 2013 that number has been doubled with 327 DAs lodged. In fact in the six weeks since 1 July, 97 applications have been made, with NSW leading the pack. See the 2012 and 2013 charts above. JLL Director, Health and Aged Care, Noral Rich, says that while the residential market is coming out of its J Curve, there is fundamentally less supply on the ground of village developments.
At villages.com.au, talking to marketing and sales people every day, we hear of strong ILU turnover in every state except SA. For instance, on Friday Andrew Brady of Caloundra Rise a Southern Cross Care QLD village - told us they sold 14 ILUs in the past 10 weeks.
