The O’Shea brothers have pushed the boundaries by stating clearly that its nine villages in Queensland, New South Wales and Victoria are only for people aged 75.
Tricare’s Sales & Marketing Manager Kat Xavier told The SOURCE that it is receiving inquiries from “very young people under 60”.
“We were receiving more inquiries than we could cope with and with the average age in our villages 84, it would be inappropriate for people a lot younger,” she said.
“We do not have anything to show in any of our villages and this action makes sense. It is now really clear to the consumer.”
She said there were people in the villages that had lived there for more than 30 years, when the minimum age was 55.
The average entry age of residents into a village across Australia is about 75 years, according to the past three PwC Property Council Retirement Living Censuses.
The turnover of village residents nationally is 9 years. It was seven years back in 2017, according to the PwC Property Council Retirement Living Census.
With people living longer, the DMF contract becomes a serious issue for operators. In Qld, Tricare cap the DMF at 35% after seven years of residence.
