Property sector urges seniors living overhaul to free up family homes for buyers

Industry experts call for investment incentives for retirement villages as a solution to tackle the housing crisis. Picture: Keryn Stevens Aussies are finding it increasingly hard to buy homes but senior citizens could be sitting on a solution and industry experts are calling for better incentives to build more seniors living options. The Australian Institute of Health and Welfare projects that the over 85 population will triple in size by 2066 and jump from around 603,000 today to almost 1.9 million. Waitlists for retirement villages have ballooned to around 27,000 and the industry says restrictive regulations as well as high building costs are limiting investment in new projects. MORE: Gridlock: Retirees trapped, families left waiting Latest figures indicate the waitlist for retirement villages is around 27,000 people. The NSW arm of the Urban Development Institute of Australia released their 2026 Seniors Housing Paper, calling for reforms to remove barriers and incentivise building seniors housing. UDIA NSW chief executive officer Stuart Ayres said that seniors housing represents one of the most effective ways to boost housing supply without expanding the urban footprint. “As ou...