The ABS today released national population figures, revealing that the fastest growing age cohort is between 75 and 79 years old.
RLC Executive Director Daniel Gannon said Australia’s three tiers of government need to address and solve the challenges associated with housing this demographic cohort now.
“With an annual growth rate of 6.73 per cent, the 75-79-year-old age group significantly out paces all other demographics with an overall growth rate of 2.48 per cent,” Mr Gannon said.
“Over the next two decades, the number of Australians over 75 will increase from two million to 3.4 million people, which will have socio-economic impacts on the nation.
“We also know that 710,000 Australians are set to retire within the next five years, which will have an impact on housing markets, hospitals, workforces and economies,” he said.
Mr Gannon said governments need to better understand the potential benefits of injecting more age-friendly housing supply into the market.
“State budget season has delivered the same old stock standard approach around the country with zero creativity or strategy,” Mr Gannon said.
“This lack of vision is frankly contemptuous to the 4.2 million retirees around Australia and the 710,000 people looking to retire in the next five years.
“Governments need to get creative and expand their vision for older Australians and their ageing needs,” he said.
Mr Gannon said that retirement villages across the country save the commonwealth government $945 million every year as Australia’s population continues to rapidly age.
“They achieve this through better designed homes that minimise trips and falls, which means residents can experience fewer visits to the GP, shorter hospital stays and delayed entry to aged care,” Mr Gannon said.
“All of this reduced interaction with doctors and hospitals releases capacity back into health systems for those who need it most, when they need it most,” he said.
