The Retirement Living Council (RLC) – a subsidiary of the Property Council of Australia – has this month unveiled a national report, Better Housing for Better Health, which outlines how an increase of retirement villages and dwellings nationwide could alleviate over two thirds of current housing stress.
The RLC has indicated that the current retirement dwelling pipeline will reduce the current housing shortage by 18 percent, providing a potential solution amidst the national housing crisis. The Council anticipates that growing the pipeline to meet current demand levels could reduce the entire housing shortage by 67 percent.
“This population shift will have socio-economic impacts on Australia, including the housing supply shortage and the pressure on an already struggling residential aged care sector,” says the RLC’s Executive Director, Daniel Gannon.
“Age-friendly housing can reduce interactions between older Australians, GPs and hospitals, which releases capacity back into health systems for those who need it most when they need it most.
“Better housing that enables better health outcomes for ageing Australians is imperative, and the bonus is that it’s good for governments too.”
The report seeks to differentiate retirement living from aged care, and outlines the benefit of retirement living and the affordability and wellbeing it provides to its residents.
“Retirement villages across Australia are already saving the government a billion dollars a year, by delaying residents’ entry into aged care, and quite simply, we need more of them,” Gannon continues.
“People who live in retirement communities are less lonely and less depressed than older Australians who live independently, because retirement communities encourage physical wellbeing and social interaction – which all translates to economic benefits for governments.
“For the first time, this report shows how our sector has actual solutions to Australia’s two biggest worrying trends – our housing crisis and our rapidly ageing population.”
A number of key findings made within the report includes a $945 million annual saving of taxpayer dollars via the delay of people moving into aged care, with retirement village residents 20 percent less likely to require hospitalisation after nine months and avoid 14,000 annual hospitalisations.
The report has additionally found that retirement living residents are 15 percent more physically active, 41 percent happier, five times more socially active and twice as likely to catch up with family or friends than their aged care counterparts. An increase in retirement living dwellings could also account for a 70 percent increase of Australians over 75 by 2040, exceeding 3.4 million.
Image: Bowden Brae Retirement Village.
