State and local Governments must change: SA a reflection of the rest of the country

Most retirement living villages in South Australia have a waitlist – yet there is precious little development going on. Residential developer Cedar Woods is building Over 55s strata development Bloom in its master planned community Glenside, and Simon Chappel hopes to develop, build and operate over 900 Best Life Communities Over 50s land lease homes in the next three years. Daniel Gannon, Executive Director of the Property Council’s Retirement Living Council, said based on the latest retirement census data, the average ILU in SA is 31% cheaper than the median priced house in the same suburb compared to 45% nationally.

“If there were more retirement communities coming to market, there would be more choice for prospective residents, which would apply downward pressure on prices. Hence, there is a supply challenge in South Australia,” he said.

“Given the proportion of people older than 65 will increase by 50% over the next 20 years, local and State Governments need to address and solve these problems now.

The Weekly SOURCE has reported several incidents of multi-million-dollar developments and redevelopments being held up for many years in recent weeks. Levande has four projects it wants to start – its Castle Ridge Resort (pictured) has been seeking redevelopment since 2016. In NSW, many operators are being forced to go to the NSW Land and Environment Court. “Often, we hear about councils around Australia slowing down the development process, which delays stock coming to market. Recently, Ipswich City Council in Queensland waived development application fees for medium- and high-density communities – including retirement villages – which is a new gold standard,” said Daniel.

“While this isn’t a silver supply bullet, it is a practical solution at a time when more Australians need a roof over their heads, and quick smart. Various councils in South Australia could consider this same approach to help encourage more development and in turn more housing options for seniors.

“The opportunity for the State Government is simple. If more retirees are living in age-friendly communities, there is significant upside for the Malinauskas Government through reduced interaction with the health system. “Age-friendly communities – like retirement villages – do not receive any Government funding to build much-needed housing for older people. It’s important that legislation does not inhibit the investment required to meet future demand.” Browse Retirement Living and Retirement Villages in South Australia on villages.com.au