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Retirement living welcomes awards and sector census

The rapidly growing retirement living industry has been in the spotlight over the past week in the wake of the Property Council’s National Retirement Living Summit, which saw the announcement of the inaugural Retirement Living Award winners in conjunction with the release of the 2017 PwC/Property Council Retirement Census.

Winners if the inaugural 2017 Retirement Living Awards were announced alongside the retirement living census at this year's Retirement Living Summit (Source: Property Council of Australia)
Winners if the inaugural 2017 Retirement Living Awards were announced alongside the retirement living census at this year's Retirement Living Summit (Source: Property Council of Australia)

Held on the Gold Coast, the inaugural awards, which have been formed by combining two long-running industry awards, were presented to the six category winners at the gala ceremony.

Featuring four new categories, Executive Director - Retirement Living at the Property Council of Australia Ben Myers says the awards highlight the terrific work being done to ensure a positive retirement living experience for nearly 200,000 senior Australians.

“Retirement communities are proven to improve people’s wellbeing and extend their independence, reducing their reliance on health and care services, while enabling people to stay active in communities that care,” Mr Myers says.

“The National Retirement Living Awards provide an annual showcase of the quality work happening in all areas of the sector, from day-to-day management to the design and refurbishment of new and existing communities.”

Mr Myers adds that this year’s winners have demonstrated their excellence and commitment to creating vibrant and active communities, which enable people to truly enjoy their retirement years.

Award winners include:

  • Programmed National Village Manager of the Year - Terry Byway, Buderim GardensRetirement Village (Lendlease)
  • Ingenia Communities Future Retirement Living Leader of the Year - Ryan Lane, RegionalDevelopment Manager NSW & ACT, Lendlease
  • CSR Hebel Award for Innovation - Bethanie Gwelup Aged Care and Assisted Living Campus, Bethanie Group
  • nettletontribe Award for Design Excellence - St Luke’s Green, Greengate
  • Ignite Architects Award for Best Refurbishment - Somerton Park Retirement Village, Stockland
  • Wise Agency Award for Marketing Excellence - The Village Taigum, Village Retirement Group

Winners of the Ignite Architects Award for Best Refurbishment, Somerton Park Retirement Village, Stockland in South Australia were recognised through the award for the refurbishment of their units and facilities while ensuring minimal disruption to residents.

General Manager of Sales, Stockland Retirement Living, Michael Wappett has shared the group's excitement over the announcement.

“We are exceptionally proud to see the Somerton Park refurbishment recognised by the Retirement Living Council at this year’s inaugural awards,” he says.

As well as acknowledging award winners, the Retirement Living Summit’s release of the census also acknowledges a number of key sector trends and findings.

The census, which was completed by more than 56,000 retirement units, uncovered three key sector trends:

Home care - Retirement village operators are providing or partnering with service providers to offer home care to village residents with 40 percent of villages reporting that they are an approved provider for either home care, residential care or flexible care

Affordability - Moving into a retirement living unit continues to be affordable as the average ILU costs less than 70 percent of the median house price in the same postcode, allowing seniors to unlock capital to improve their quality of life

Contraction of Maximum Year Deferred Payment - Maximum deferred payment percentage is now reached sooner with approximately half the villages reaching maximum percentage by year five whilst the remaining villages reach the maximum percentage by year 10

Chief Executive - Property Council of Australia Ken Morrison says the census provides a credible evidence base for industry decisions and Property Council advocacy.

“A strong sector needs reliable research in order to reflect, plan and grow,” he says.

“I encourage village operators, investors and government to use the Retirement Census in their business decision making.

“The data is also invaluable to the Property Council’s advocacy with government, media, and others, to show the growth, trends, and benefits of this important sector.”

The full PwC/Property Council Retirement Census, and more information on all 2017 Retirement Living Award winnerscan be found online.

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