When taking into account an eight- to 10-year occupancy combined with an average selling period of 223 days (32 weeks), it is reasonable to state that most villages are ‘FULL’.
Most operators state they require these 32 weeks to respectfully work with the family to remove parents’ items before a refurbishment can take place, then commence the marketing.
This again goes to the question of sales price – if vacancies are tight and interest is high, then prices should be open to escalation.
There is no shortage of enquiry. In the short month of February, 87,690 people searched for a retirement village on villages.com.au.
Again, the argument is strong for considerable price escalation, backed by more aggressive investments in marketing to position villages strongly.