Increase in accommodation bonds
Posted
by DPS
Senator Santoro
The Minister for Ageing, Senator Santoro has told delegates at the Aged Care Association of Australia’s National Conference that the Government is “carefully monitoring the increase in bonds that is occurring”.
He said the average accommodation bond in low care for a new resident in 2005-06 was $141,654, compared with $127,618 in the previous year – an increase of 11% in a year.
The Minister observed that this was ‘way more than inflation’ and queried whether residents, some of whom were now paying very large bonds were getting value for money.
“I hope so, but obviously where supply is capped but price is not, it is difficult to assume that value is the order of the day,” he commented.
