DCM Institute hosts sector’s first post-COVID gathering for Adelaide Industry Update

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Over 60 retirement village leaders assembled for the first SA face-to-face meeting in the sector post-COVID.

DCM Institute Director Jodie Prosser had organised South Australia’s Chief Retirement Village Officer, Vanessa Clarke, to speak on her thoughts on the upcoming review of the RV Act, plus Bob Ainsworth, President of SAVRA, on his members’ thoughts on the Act.

Vanessa said 70 buyback repayments had been made by 23 operators to departing residents as part of SA’s after 18 months of buybacks requirements being in place. Across the state, there are 533 registered retirement villages with 26,447 residents across 18,891 ILUs and serviced apartments.

Nino DiSisto, CEO of Clayton Church Homes, reviewed their expansion strategy and as Deputy Chair of ACSA’s Retirement Living committee, their position on the legislation review.

Michael Peake, GM Retirement Living at Life Care and LASA’s Chair of Retirement Living, gave his views as did Andrew Bourne, GM of the Parks Villages and Chair of the Retirement Living Council’s Government Committee.

I spoke for 15 minutes on the DCM Research Prospect Profile report, highlighting that just 3% of 60+ Australians are today active buyers of retirement villages – which is 74,000 customers (including couples), but that is okay with just 22,000 village homes available to sell in any one year.

Thanks to DCMI. Great discussion all round.

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About Author

Chris has been a journalist and weekly commentator on the retirement village and aged care sectors for 15 years. He has interviewed residents and management at over 250 villages nationally, plus visited aged care homes across the country and studied homes and management in America and Africa. As Co-founder of The DCM Group, he has guided the business growth and is a sought after advisor to operator boards and management.