The Future of Housing for Older Australians

The demand for seniors housing is expected to increase significantly in line with the ageing of the population over the coming decades. Broad changes to the housing situations of older people and the household structures in which they live have significant implications for successful ageing. To ensure the wellbeing of older Australians, policy and planning for age friendly housing needs to consider the design, demand, affordability, supply and location of housing solutions for this age group. This paper outlines the issues associated with the provision of a range of seniors housing products, including affordable products for those on lower incomes. It identifies strategies and makes recommendations for removing some of the key barriers to providing these housing products to address the current gaps in the seniors living market. Many older Australians have to meet rising costs of living on a limited income. While many have substantial assets, they are tied up in the equity of their homes and the majority pay for their daily living costs from savings, superannuation, allowances or the Age Pension. Those who are renting on low incomes are at a higher risk of homelessness.