The highly respected economic forecasting company IBISWorld has released its prediction that the retirement village sector will grow faster and bigger than most have previously dared to consider. With 1,750m villages today, they predict Australia will have 2,900 within 10 years, a growth of 66% and 4,300 villages by 2026. What is more they predict the average village size will be closer to 100 ILUs, up from todays average if 75 ILUs.
If they are right, then 10% of all people over 65 will reside in a village and the industry will be supplying about 3.4% of all Australias housing.
Exclusive: Aveo to sell off its retirement villages in South Australia and Tasmania
Tony Randello, CEO of the nation’s leading retirement village provider, said the impending sale of its 16 retirement villages in South Australia and Tasmania “aligns with Aveo’s regular strategic review of opportunities across its portfolio”. The...