One of the complex issues associated with Australia's ageing population is the need for age-appropriate housing. While roughly 6.1 million Australians are aged over 55, just 6.0% live in retirement villages or residential aged-care facilities. With the onset of age-related conditions or fragility comes the growing need for assistance with everyday activities and personal care. Over the past five years, the Aged Care Residential Services industry has continued to expand, offering different lifestyle accommodation options and aged-care services. Over the five years through 2014-15, industry revenue is expected to grow at an annualised 4.2%, to $17.0 billion.
The industry consists of establishments that provide long-term aged-care accommodation, including government-approved residential aged-care accommodation and retirement villages. An increasing number of establishments are providing residential aged-care services across the entire spectrum of dependency, from independent living units and low-care options through to high- care and specialist care such as dementia care in line with ageing in place principles.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.