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 ILU’s, up from today’s average if 75 ILU’s.
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 Australia’s housing.