Looking forward, the retirement living sector is set for both great times and very dangerous times. Public opinion and demand for our products will be strong, but we will also be susceptible to bad news – and there will be bad news.
Regular readers will be aware that we are forecasting that with few village homes and aged care beds being built relative to the Baby Boomer bubble just hitting 80 this year, and no real increase in the home care workforce or packages, there will be a significant rise in bad (and sad) news stories.
It is already happening, and with it, negative views of our seniors housing products and services will be dragged in, creating fear.
Yesterday Lifestyle Communities released its half year results, laying bare what bad media can do. See where their sales have fallen off a cliff, thanks to the ABC.
Note that not only have new sales been hit, but established sales as well, meaning residents and families seeking to retrieve cash for aged care or inheritance. Both will impact local word of mouth around Lifestyle Communities and land lease in general.
The good news - last Thursday the members of the Retirement Living Council voted in Claire Scapinello as Vice President and returned Brett Robinson and Tony Randello as Vice President and President.
These are serious executives with serious talent, and they are committing themselves as volunteers to represent the sector.
Claire Scapinello is CEO of the large community Not For Profit in Adelaide, ECH. Her career spans retail, marketing, digital, strategy and funds management across big companies like Suzanne Grae, Toga Hotels (with Rachel Argaman) and GPT.
Brett Robinson is CEO of RetireAustralia, one of our largest village operators. A doctor of medicine, Brett also represented Australia in rugby as a Wallaby 16 times, and is now the Chair of World Rugby. His career includes CEO of boutique ‘Specialist’ arm of BOQ (Bank of Queensland), and CEO of Icon Cancer Care, a national network of radiation and medical oncology hospitals.
Tony Randello is a veteran retirement village leader for 20 years, including CEO of Lendlease Retirement when it was the largest village operator – and when the ABC attacked the sector in 2017 with the ‘Bleed Them Dry Until They Die’ media barrage. He was then recruited to lead Aveo, the second largest operator.
Tony recruited Daniel Gannon (pictured on the ABC 7.30 program) as the Retirement Living Council’s Executive Director in 2022. Daniel grew up in retirement villages, given his family are pioneers in the sector. He is a highly experienced strategist, advocate and communicator.
Daniel’s Shared Care White Paper resulted in the Federal Government announcing funding for 30 village operators to pilot sharing home care funds to employ a village nurse and other initiatives.
At the same time, over at Ageing Australia, Mark Prosser has been appointed Director Retirement Living & Seniors Housing. Mark also is a serious executive with 25 years’ experience on the ground managing retirement villages and consulting to the sector.
Mark is behind the Ageing Australia Pre Budget Submission to trial Hospital in the Home in villages.
Importantly, Australia urgently needs new strategies and action to provide ageing support and housing. We can’t wait for the market or government to dictate. And we can’t sit and take uninformed main media and social media – the real cost will be great. Just ask Lifestyle Communities.
