The Property Council of Australian (PCA) wants more retirement villages built to cater for Australia’s ‘expanding’ ageing population.

Executive Director Daniel Gannon - who heads the PCA’s Retirement Living Council - said recent ABS national population figures show the fastest growing age cohort was 75-79 year old’s.

This was due to the large baby boomer cohorts born after World War Two moving in to the older age cohorts.

“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 percent,” Mr Gannon said.

While the National Housing Accord plans to deliver 1.2 million homes over the next five years, little mention is made of housing for retirees. The unknown element is how many will stay in their own home.

People investing in retirement housing need to have their financial wits about them, a spokesperson for National Seniors Australia said.

"The cost of good legal advice (for a property purchase) may be thousands of dollars. Some solicitors charge up to $5,000, and older people often decide against getting this advice because of the cost. But not doing so also could come at a very dear cost, much more than the legal advice," said National Seniors Australia.

Mr Gannon said retirement villages across the country save the commonwealth government $945 million every year, as Australia’s population continues to 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.

There are no official figures which state that people living in retirement homes saves the commonwealth government $945 million a year.

According to the 2023 Intergenerational Report (IGR), Australians are expected to live longer and spend more years in full health.



The five main spending pressures of health, aged care, the National Disability Insurance Scheme, defence, and debt interest payments, are projected to rise from around one-third to around one-half of all government spending.

The population is projected to reach 40.5 million in 2062–63, similar to projections in the 2021 IGR.