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Increased demand for retirement-friendly property in SA

13 Jan 14

South Australia's ageing population is contributing to increased demand for retirement-friendly property in Adelaide.

According to a statement released by the Retirement Living Council, there is a severe shortage of homes for retirees wanting to downsize their properties in the area.

The statement was released off the back of a report published by MacroPlan Dimasi that analyses population changes. Based on the 2006 to 2011 ABS Census, the report identifies key areas where the population is ageing.

The findings revealed many retirees are moving further out from the CBD to fringe suburbs, such as Prospect (north of Adelaide) and Mitcham (to the south).

The Retirement Living Council has expressed concern at this phenomenon due to a lack of appropriate housing and retirement villages in these areas.

Executive Director Mary Wood is urging the government to consider incorporating retirement villages into development plans for Adelaide and its suburbs.

"Including retirement villages in capital city planning provides housing choice and social diversity and allows seniors to stay living in their existing communities and be close to families, friends and support services as our population ages," Ms Wood said.

"As a result they are likely to live happier and longer lives reducing hospital and aged care costs borne by the taxpayer."

Ms Wood added that other areas with growing ageing populations near Adelaide included [include?] Golden Grove and Mount Barker.

Although the lack of appropriate housing for retirees in these areas presents many challenges, it does create a competitive property market. Real estate agents may be kept busy searching for appropriate properties for prospective buyers.

Agents looking to increase business in Adelaide and surrounding suburbs may benefit from taking property management courses to improve their skill set. The better agents understand the current property climate in South Australia, the better they will be able to help find buyers and sellers the best deals.