Census confirms resident satisfaction

An overwhelming majority of retirement village residents are satisfied with their life in a village and believe their overall happiness has increased or stayed the same since moving in, according to the largest national survey of village residents.

The McCrindle Baynes Village Census 2013, produced by independent analysts McCrindle Research, also found the vast majority considered the fees they pay for services in the village to be reasonable.

The Retirement Living Council did not make a financial contribution to the 2013 Census, but we helped in the formulation of questions, to improve the factual base for advocacy aimed at expanding village options for senior Australians.

In further statistics that demonstrate the satisfaction of senior Australians who live in retirement villages:

• 91 per cent of the more than 5000 respondents were happy with their decision to move into their village;
• 90 per cent said their decision to move was a good financial decision;
• 91 per cent said their social life has either improved or stayed the same;
• The ability to stay independent, live in a safe environment and use on-site facilities were the biggest factors behind people’s decision to downsize to a village.

Importantly, the report finds that retirement villages are affordable and accessible for all. Seventy-eight per cent of village residents are age pensioners, and 70 per cent report that the cost of living in a village is the same or less than their living costs in their former family home.

Social demographer Mark McCrindle, principal at McCrindle Research, says the 2013 Census shows retirement village residents are “living longer, active later, using technology more and even working later in life than previous generations of retirees”.

“More than one in seven of the retirement village age group are still in paid employment and based on these trends we will see increasing numbers of retirement village residents who are not in fact retired!” Mr McCrindle said.

As we age, our housing requirements change: grab rails, no steps and removing trip hazards in showers extends people’s independence and gives them dignity.

This report identifies the practical benefits of retirement living from an individual’s perspective. The RLC is using it to explain to our political leaders and public servants that this sector is enabling elderly Australians to live happy and extended lives, and the importance of working with industry to help it grow.

To see more of the numbers from the Village Census, including the top push and pull factors and why recent residents decided to make the move, download the executive summary. This summary also gives you information on how the full results can be purchased, and their implications for strategy and marketing.