The developer says it’s now on track to meet the 25% objective after having its strongest sales year since it was founded in 2004.
Halcyon joint managing director Dr Bevan Geissmann estimates that more than 800 homes were built for the over-50s market in South East Queensland in 2017 – double the number in 2016 – in their latest press release.
He’s also cited the recent attention on villages as the reason. “We believe this is due to the rising demand from retirees looking for a lifestyle property that can serve their needs for 20 years without being impacted by the financial limitations and stigma associated with retirement villages,” he said.
Dr Geissmann adds that they believe the LLC model is better because it offers no stamp duty or exit fees.
“The Government has worked hard with the industry to give residents what they want: fairness and transparency,” he said.
Halcyon calculates there are around 20,000 residents living in over-50’s communities in SE QLD. Considering QLD has a 20% share of the market, that means there are around 100,000 residents are living in LLC’s nationally – a sizeable population for developers to target. Retirement villages have 180,000 residents after 40 years’ growth.