Seachange
Emerald Lakes

Boom in over 50s demand

15 Jul, 2014

THE Gold Coast is set to reap the benefits of retiring baby-boomers looking for different retirement living accommodation, according to demographer Bernard Salt.

His recent report Reimagining the Great Australian Retirement Lifestyle, contends that changing expectations for retirement living would drive “different accommodation products” in the future.

Mr Salt said changing ideas about retirement living would generate a cultural impact similar to the baby boomer-driven seachange phenomenon that propelled southeast Queensland in the early 2000s.

Mr Salt said baby boomers entering the age bracket between the mid-50s and 70s wanted housing that catered to their greater levels of employment and social and familial engagement.

“Those same boomers a decade or so later will be looking for a different accommodation product,” Mr Salt said. “That product is yet to achieve the cultural impact of the seachange shift but with so many boomers pushing into this stage of the lifestyle, it is surely only a matter of time.

“A range of accommodation options will emerge to meet this market. One such need will be self-contained townhouses or lifestyle unit facilities in a coastal location in places like southeast Queensland.”

Pradella Property Ventures recently started work on its $75 million over-50s country club estate, Seachange Emerald Lakes at Carrara. So-called over-50s villages feature a large range of facilities and activities within a secure gated estate for people still actively engaged with the community whether through work or social pursuits.

Another developer meeting the new trend is Halcyon.

It has launched the $60 million Vision by Halcyon estate at Hope Island, which when complete will have 88 homes, including absolute waterfront dwellings.

Halcyon joint managing director Bevan Geissmann said Halcyon communities responded to baby boomers’ desires to downsize their financial commitments while “upsizing their lifestyles”.

The project has been officially brought to the market after achieving pre-launch sales of almost $15 million.

Reported by Alister Thomson
Weekend Gold Coast Bulletin, 12 July 2014