The retirement living sector is booming thanks to Australia’s rapidly ageing population. So how can savvy property investors get a slice of the action?
By RICHARD ANDREWS
Unless you’ve been living under a rock for the past 10 years you would know that Australia’s population is rapidly ageing. The maturing of the country’s demographic profile is changing the nature of our living arrangements and driving a boom in the retirement living sector.
At the time of the last nationwide Census in 2006, there were almost 2.7 million Australians aged over 65, making up around 13 per cent of the population.
Australia’s aged population is concentrated in the eastern seaboard states, with South Australia and Western Australia also holding reasonably sized aged populations. Tasmania and the territories have much smaller aged populations.
Looking forward to 2016, the Australian Bureau of Statistics estimates that this age demographic will grow dramatically in every state, with a nationwide average increase of 54 per cent.