Reverse mortgages drying up

Feb 09 2009 Updated July 4, 2023

The Weekly Source

1 min read

The alternative of staying at home and drawing down on the equity in your home is evaporating for many, as the number of reverse mortgage funders declines in line with increasing uncertainty on home values. The 22 reverse mortgage suppliers is now reported to be down to less than ten. This has led to the rating firm Canstar Cannex that has specialized in grading reverse mortgages to abandon this service.

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...

Ian Horswill

22 Apr 2024

Topic - Aged Care

Breaking news: For Purpose Investment Partners’ aged care platform buys Graeme Croft’s Signature Care

For Purpose Aged Care Australia (FPACA), the aged care provider established by social impact investment vehicle For Purpose Investment Partners (FPIP), is moving forward on its vision of reaching 5,000 beds, acquiring 14 aged care homes – eight on...

Lauren Broomham

24 Apr 2024

Development

Seniors housing faces becoming “the roadkill of the NSW planning system”

Two major policies recently exhibited by the NSW Department of Planning, Housing, and Infrastructure (DPHI) could have major implications on seniors housing, said Ethos Urban Director Daniel West. The Weekly SOURCE stated last Tuesday that Daniel...

Ian Horswill

16 Apr 2024

Opinion

576 village sellers are waking up: buyers are knocking on doors as the demand and supply penny drops on seniors accommodation

With Aveo selling 16 villages and RetireAustralia, with 29 villages, now also up for full sale (again), we hear a lot about these big players in seniors accommodation, but little about the little guys – and there are a lot of them. In fact we have...

Chris Baynes

22 Apr 2024

John Wood’s Providence Lifestyle Resorts wants to extend fourth land lease estate near Perth, WA

John founded Providence Lifestyle Group in 2020, with fellow directors John Green, James Turnbull, and Brad Denison. He founded National Lifestyle Villages, which was sold to GIC and Tasman Capital Partners in 2018, when he became Director of...

Ian Horswill

12 Feb 2024

Uncategorized

Only in SATURDAY: reason for hope for village operators in Aged Care Act draft

Hybrid, privately funded care models in retirement villages should fall outside the remit of new Aged Care Act legislation, MinterEllison Partner Penelope Eden has told the latest issue of SATURDAY. The Exposure Draft of the new Act has had many...

Lauren Broomham

05 Feb 2024

Uncategorized

North Bundaberg’s 487 home RV land lease village incentivised for fast start

The RV Lifestyle Village Oceanside project was officially opened this past weekend after a ribbon cutting ceremony. The resort-style village, located just outside Bundaberg in Burnett Heads, will have 487 sites upon its completion. Bundaberg Region...

The Weekly Source

15 Feb 2021

Uncategorized

Lake Macquarie Council assessing a $38M seniors housing development proposed by new village entrant

The Lake Macquarie Council is looking at the $38 million development application for senior’s living and retail on a 16,800sqm site in Mount Hutton, 14km from Newcastle. Submitted by development advisers Baini Design on behalf of a mystery new...

The Weekly Source

26 Jan 2021