Introducing Urbis’ new SEQ retirement and aged care market database

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The movement to ‘vertical’ retirement living, a relatively new concept within SEQ, is beginning to take shape, with a number of recent additions to the market.

The top ten suburbs for future retirement unit supply are spread geographically across South East Queensland, however the Brisbane LGA holds over 20 per cent of future units in development application and over 29 per cent of future units in development approval status.

The Ipswich LGA currently holds only 6.2 per cent of total retirement units in approval status, a low number considering that at current stock levels there are 14.2 Ipswich residents (aged 70 to 84) per existing retirement unit. However, the Ipswich LGA holds over 30 per cent of retirement units in development application status across South East Queensland, the bulk of these located in Aveo Springfield at Springfield Central.

The movement to ‘vertical’ retirement living, a relatively new concept within SEQ, is beginning to take shape, with a number of recent additions to the market. An increase in development activity of this nature is already being felt, feeding off the desires and location demand of tenants who want to maintain their current lifestyle and networks.

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The future of aged care is not just about heath and housing, it is about creating a sense of well-being and care for not only the residents but also their families and carers. Through careful planning and design, we can create open and welcoming places with a village atmosphere,
where residents of all ages, background and ability are supported to remain engaged and active within their local community.

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Of the 4,283 aged care beds in development approval in SEQ, only 6.7 per cent are located within the Gold Coast LGA, despite 18.6 per cent of SEQ residents (85 years plus) residing in the Gold Coast. However, 14.3 per cent of aged care beds in development application are located in the Gold Coast. 

Urbis research indicates that 42 per cent of South East Queensland residents aged 85 years and older are currently residing in aged care establishments. In 2011, 1.64 per cent of the South East Queensland population consisted of residents 85 years and older. The ABS estimates this will grow to 3.35 per cent by 2036.