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Push for critical reforms around retirement village living

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Seniors Own Real Estate Managing Director Mike Graebner said affording villages the ability to redevelop with more ease was essential for the sector.
Camera IconSeniors Own Real Estate Managing Director Mike Graebner said affording villages the ability to redevelop with more ease was essential for the sector. Credit: DGLimages/Getty Images/iStockphoto

Potential reforms to the retirement living sector is now in full swing, with the Department of Mines, Industry Regulation and Safety currently in its third phase of consultation on proposed changes to the Retirement Villages Act.

Recently more weight has been thrown behind these reforms, with the Property Council of Australia and NS Group calling for change in their recent Emerging Stronger Together: Leveraging the property industry to support Western Australia’s economic recovery report.

“Reforms to retirement living legislation is critical to unlocking the redevelopment potential of some villages,” Property Council Western Australia Executive Director Sandra Brewer said.

“We need to cater for an ageing population, so retirement living is critically important.

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“Retirement villages play a crucial role in the seniors housing mix from a housing choice and lifestyle perspective. We need to make sure we’ve got good housing options for older Australians.

“Retirement villages give retirees an opportunity to rightsize, unlock their equity in their family home and avoid stamp duty.

“A good level of housing mobility lets people choose the kind of housing that suits them at each life stage.”

Ms Brewer said they were anticipating retirement living to increase in demand into the future.

“We need another 20,000 retirement village units over the next decade and the sector is excited about the opportunities this brings for the industry,” she said.

One recommendation from the report was to partially lift the memorial titles to allow for joint development of mixed-use villages.

“Retirement villages need to evolve and mixed-use developments within retirement village settings is a great way to achieve this,” Ms Brewer said. “Many operators want to offer differing services and housing types to suit residents but outdated planning rules make this hard.

“For example, memorial titles, which impose restrictions on how existing retirement villages are developed, are one of the biggest hurdles the sector faces in progressing mixed-used developments and redevelopments for villages using the typical lease for life model.”

Seniors Own Real Estate Managing Director Mike Graebner said affording villages the ability to redevelop with more ease was essential for the sector.

“I think people’s rights need to be protected, but also there must be more flexibility in legal situations to allow for land owners and village operators to be able to approach and provide solutions or alternatives to sites which have been around for a long time and have been developed in one way and now needs to be developed in a more practical way given the current needs of the population,” he said.

“With the ageing population, the more options that are available the better and the easier it is to get approval through.”

The Property Council of Australia has also advocated for the creation of a retirement category in local government planning rules.

“We support the Department of Planning, Lands and Heritage’s proposal to add retirement living as a planning need at local government level,” Ms Brewer said.

“If adopted, those ideas will encourage smarter land use in residential areas, allow retirees to live close to their existing communities, integrate retirees with other groups in the community and connect them to the services and amenities they need.”

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