Some good, and some challenging news. Last Friday our market research partner Australian Online Research (AOR) delivered the first cut of our national survey of 4,300 village residents.
The first measure we look to is satisfaction – are the residents satisfied with their village decision and life?
A massive 79% rated their satisfaction between 8 and 10 out of 10, with an average across the board of 8.4 out of 10. This is big!
For balance, on the negative side, 3% expressed minor dissatisfaction and 1% were very dissatisfied. In raw numbers that is 129 people slightly dissatisfied and 43 greatly dissatisfied with their village decision or village life out of 4,300 residents.
This is a lot and not what we want, but when you take into account that as a population, village residents are all facing increasing physical and emotional challenges as they advance to late age, it is perhaps expected that some have challenges.
Do villages deliver?
On the whole, village living also meets or exceeds expectations, with 64% of 4,300 residents indicating that their expectations have been exceeded (rating of 6-10) and a further 23% indicating their expectations have been exactly met.
However, 13% of residents reported that the village living has fallen short of expectations – a flag for some underlying concerns with different aspects/irritants of village living and management.
Thankful for living in a village under COVID
More good news. 94% said they were glad to be living in a retirement village under COVID!
And 67% report they have recommended their village to a friend.
Is the retirement living sector the Royal Commission’s answer?
This is our fourth National Residents’ Survey over nine years and delivering over 32,000 resident voices.
These satisfaction and performance figures are the highest yet, and are extraordinary when you consider the personal challenges and journeys that residents are facing.
The Royal Commission is forecast in its Final Report to recommend new housing models that will bring wellness, safety and support to Australians in their last 10 years of life (not just aged care).
Retirement villages (and land lease is following) have the facts to back up that they are a proven answer – and even better the accommodation is self-funded by the ‘customer’, not the Government.
The opportunity is there for the sector to lead the discussion.
A first step is to join us at the LEADERS SUMMIT in your capital city, where the Royal Commission Final Report will be unpacked and strategies formulated.
Perth, Adelaide, Melbourne, Sydney and Brisbane, 18 and 19 March. Learn more HERE.
