Docstoc

SECTION E - COUNCILLOR REPORTS CR KIERAN KENNEDY RETIREMENT

Document Sample
SECTION E - COUNCILLOR REPORTS CR KIERAN KENNEDY RETIREMENT Powered By Docstoc
					South Gippsland Shire Council                                             22 April 2009
                                                                            Leongatha


SECTION E - COUNCILLOR REPORTS

      CR KIERAN KENNEDY

      RETIREMENT            VILLAGE      ASSOCIATION          LTD       WORKSHOP
      18 MARCH 2009
      INTRODUCTION

      The Retirement Village Association (RVA) conducted a workshop on the
      18 March 2009 which I attended and the following is a summary of key points
      to advocate for a sustainable and responsible industry.

      BACKGROUND

      The RVA is the peak body in Australia for the retirement village industry.

      The association sees its business growth and industry viability to include:

      •     Increasing the market penetration of retirement communities, improve
            consumer, government and other key stakeholder awareness of seniors’
            living communities e.g. holding forums and conferences, engaging with
            key industry stakeholders.

      •     RVA have a national office in Melbourne, regional offices in Brisbane,
            Adelaide and Perth.

      •     Representing more than 640 members nationally.

      •     486 villages.

      •     109 Regional Associate Members.

      •     35 National Associate Members.




                                       Page 163
South Gippsland Shire Council                                             22 April 2009
                                                                            Leongatha


      INDUSTRIAL GROWTH POTENTIAL

      The retirement village industry is predicted to be the fastest growing area of
      the property sector, with a projected investment in construction in excess of
      $42 billion over the next 15 years.

      The number of units projected State by State:

      NSW ................................      33,900

      Victoria ............................     22,950

      Queensland .....................          20,400

      South Australia .................         13,950

      Western Australia .............           12,700

      Tasmania .........................        1,340

      ACT ........................ 1,160

      NT     ............................. 30

      •      The ageing population >65 will grow at twice the general population rate.

      •      At this point in time the ageing population is 2,736,000 or 13% of the
             Australian population.

      •      By 2011 the same population is expected to rise to 3,176,000 or to 14%
             of the Australian population.

      •      In 2021 the expected figure will reach 4,554,000 or 18% of our countries
             population.

      •      2051 will see an alarming figure of 9,049,000 or 27% of people in
             Australia will be retirees.

      The rate of ownership in Victoria ownership of Independent Retirement
      Villages shares a 50/50 as far as the profit versus the not for profit sector.

      On average baby boomers land and houses are worth almost $400,000 and
      have an average $65,000 in superannuation.

      •      66% of 55-64 years old are accumulating superannuation.

      •      79% of people over 70 have no superannuation.

      •      25% of people aged between 55-65 years have no superannuation.




                                                Page 164
South Gippsland Shire Council                                          22 April 2009
                                                                         Leongatha


      From 2003/04 to 2006/07 the number of people receiving the aged pension
      increased by over 75,000. Payments increased by over $3 billion.

      •     The proportion of people of eligible age for aged pensions in the total
            population is projected to double by 2046-47.

      •     Government spending on aged pension is expected to rise from 2.5% of
            GDP in 2007 to 4.4% of GDP in 2047 coupled with an 80% increase in
            the number of people on the aged pension.

      ISSUES FOR COUNCIL

      Council is preparing a Positive Aging Strategy in 2009/2010.

      There is interest by a not-for profit company with regards to an Independent
      Retirement Village in Tarwin Lower, on Council owned land, nestled between
      the Tarwin Lower Recreation Reserve and the Tarwin Lower Community &
      District Health Centre.

      The company is very keen to discuss the project. I am also in the process of
      facilitating a meeting with this company through the Planning Department
      heads and all relevant Council Department heads. Subjects for discussion
      will include possibilities of more projects within the South Gippsland Shire.

      For Council to move forward on the above proposal, a Section 223 process
      needs to be followed.

      CONCLUSION

      The ageing of our population will have major impacts on our community and
      ability to provide services.

      One must remember that by 2020 1 in 5 people in South Gippsland is
      expected to be 65 years and over.

      As a Council it is imperative to network with this vital industry and prepare
      well for the near and distant future.




                                      Page 165

				
DOCUMENT INFO
Shared By:
Categories:
Stats:
views:1
posted:4/19/2010
language:English
pages:3
Description: SECTION E - COUNCILLOR REPORTS CR KIERAN KENNEDY RETIREMENT ...