1. PROBUS CLUB
17 November

2. Key Findings Taken from the PwC/Property Council Census 2016
Average age of residents is 80
Average age of moving into a Village is 75
65% are female
40% of independent units are occupied by couples
200,000 Australians live in retirement villages
Spread of ages of residents consistent with current demographics.

3. What are the ‘trigger points’ to thinking about moving?
Change in circumstances – move closer to family
Current house is too big – too many steps
Lack of transport in your area
Need more support – don’t know the neighbours, so I can not ask for help
Difficult to access services
Social isolation and the kids are concerned

4. Most Common Village Attributes
Community centre with adequate communal spaces 92%
Emergency call system 91%
Organised outings or activities 86%
Library 82%
Visiting health professionals 78%
Increase in pet friendly Villages

5. Facility Considerations
INDIVIDUAL
Will the internet work?
What about my pet?
Can my grandchildren use the pool and stay overnight?
What is included in my monthly charges?
What other services can I access?

6. Organisational Considerations
Is the Village operator managed?
What are the financial commitments:-
Before entry purchase price?
Ongoing recurrent fees/charges?
When I leave i.e DFM or exit fees

7. Design & Affordability
Less than 16% of all Villages have three bedroom units.
Many variations of commercial structure
Some are lease licence, strata titled, assignable long term lease some are rental.
Some have DFM – deferred management fees, which may attract a reduction in net proceeds at time of sale.

8. What are the Benefits? Opportunity to participate and socialise
Sense of community
Easy access to services – additional care, meals, nursing assistance
May assist in releasing assets by selling home

9. Any Pitfalls? Do your homework See other Villages
Assess the culture of the Village
Pop in unannounced
Understand the contract
Understand the deferred management fee
Understand communal living

10. What About The Future
Newer villages are constructed with bells and whistles, which all come at a cost.
Trend is for an ever increasing range of services.
Trend is to cater to a more discerning clientele
Cautionary note is the balloon fee structure where the DFM, commences at 7% for year 1.

11. Likely Future Demand
Past decade has seen tremendous growth in this sector with many changes in design and services
Ageing population leads to increased demand
The economics of a move to a village is sound.