Research from Australia’s largest residential developer suggests COVID has caused a significant proportion of soon-to-be-retirees to re-evaluate their retirement plans.
Drawing on data from a sample group of 1,199 Australians, Stockland discovered the pandemic had prompted over half of respondents to think more about their retirement plans, and 45% to re-evaluate where they want to live.
Being close to the rest of the family was named the most important factor in individual’s retirement plans, followed by financial independence and safety.
There were also some encouraging takeaways for village operators.
Stockland found residents of retirement villages are less likely to worry (28% compared to the national average of 25%), more likely to be optimistic (26% compared to the national average of 17%), positive (21% compared to the national average of 14%) and safe (19% compared to the national average of 10%).
Kirrily Lord, General Manager of Stockland Retirement Living Communities, said the pandemic has put a greater emphasis on the need for connection, community and safety.
“Community and connection remain an important factor in the wellbeing of all Australians, but are particularly critical to ensuring retirees thrive and enjoy the freedom, fun and independence of living in a retirement community,” she added.
