The first draft of the villages.com.au National Village survey results was delivered yesterday by market research firm Australia Online Research (AOR).
In addition to commissioning AOR to survey village residents (final completions 19,477 residents across 529 villages), we also commissioned them to conduct a control survey of non-residents to compare their life satisfaction to Village residents and identify the market potential, barriers and triggers to purchase.
Both survey reports are fascinating.
One element caught our eye.
“Improved life satisfaction and happiness is also significantly higher among residents than their non-resident peers.
Residents who have purchased in the last five years exhibit a Net Increase of +44% (57% increased versus 13% decreased) compared to a Net Decrease of -4% among non-residents (24% increased versus 28% decreased)”.
This indicates that for many residents, making the decision to join a retirement village had a major positive impact on satisfaction with life, while for many who remain in the family home over the past five years had a decrease in life satisfaction.
What other product or service can deliver such an outcome for people aged 70+?
The final report will be distributed to participating operators next Monday.
A full presentation will be provided by AOR at our LEADERS SUMMIT next Thursday, with follow-on discussion by industry leaders.
In addition to these two surveys we also commissioned a survey of the village managers across 529 villages. Also fascinating reading.
