People staying longer in Australia’s retirement villages: PwC Census

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The average age of people who have chosen to live in a retirement village has risen to 81 years and the people are staying in the village, on average, for eight to nine years.

In addition, the average age of a person who enters a retirement village is 75 years of age, according to the latest PwC/Property Council Retirement Census.

As The Weekly SOURCE reported last Tuesday, the growth in retirement village home values only increased 4% against a national average increase for residential homes of 22%.

The average age of people who have chosen to live in a retirement village was 81 years in the 2019 PwC/Property Council Retirement Census, when the average age of entry was 74 years.

Back in 2017, the average age of residents was 80 years and people were, on average, staying for seven years.

“This is a big change over the last few years, and we think we know why. Home care and the infrastructure to support a healthy ageing process and the built-form outcomes are having a significant influence,” said a spokesman for the Property Council’s Retirement Living Council.

“Coupled with the villages having more sophisticated assistive technology, e.g., monitoring and alarm systems or inhouse communication platforms, we are likely to see this average number continuing to increase.”

Research conducted for the Retirement Living Council in 2014 found retirement village residents enter aged care on average five years later than those going from a family home.