Housing is a key player when it comes to ageing and while ‘ageing in place’ appears to be a clear preference, few studies have considered the alternatives – until now.
Recently released, The Catalyst Report summarised feedback from over 12,000 Australians aged over 60, comparing groups by age, sex and where they live – revealing people living in retirement villages report better quality of life.
Older Australians living in a retirement community scored significantly higher on the Catalyst Wellness Index (77.5) compared with the average for all older Australians (71.3).
Catalyst managing director Kevin McCreton presented these results at the recent Aged & Community Care Providers Association (ACCPA) National Conference.
“It’s clear that retirement communities offer a range of benefits for older Australians,” said Kevin.
“Retirement community residents have superior wellness than those who don’t move from home as well as those who downsize to a smaller property.”
ACCPA CEO Tom Symondson said retirement villages offer a place to thrive and connect within a supportive community.
“Retirement villages empower older Australians to live confidently, pursue their passions and embrace new opportunities. They create a sense of belonging and purpose, offering not just a home but a vibrant environment where people can truly flourish,” said Tom.
Retirement village residents rate their wellness far more favourably in terms of safety, companionship and access to support. Those living in lifestyle-oriented communities are happier again in terms of independence, activities, mental well-being and thoughts about the future.
For some people, another drawcard is a focus on living in a healthy environment and lowering their environmental footprint.
With interest in sustainability increasing and people becoming more aware of their own personal impact on everything from landfills to climate change, forward-thinking communities that have implemented green practices not just as a marketing tool but as a way of life, are reaping the rewards.
Green buildings – which utilise design, construction and operational practices that significantly reduce or eliminate negative impacts on the environment – can also improve the quality of life for people who live in them, particularly as the choice of natural products improves indoor air quality and reduces potential irritants by minimising or eliminating the use of volatile organic compounds, formaldehyde, flame retardants and terpenes.
Designed with energy efficiency principles including correct solar orientation and sufficient building insulation as well as double- or triple-glazed windows, people living in green buildings also benefit from reduced energy costs.
While retirement living residents indicated a better quality of life than other older Australians, renters fared the worst. With cost of living pressures and government payments like the pension not commensurate with the advancing financial burden, this finding is easy to understand.
“It’s clear that renters suffer housing insecurity. They also rate their financial well-being far lower than other Australians,” said Kevin.
The report also revealed those over 80 report much higher satisfaction with their financial well-being than those under 66 years of age. This reflects property appreciation, lower expenses and lower spending among many Australians over 75.
Women have a slightly lower Wellness score (70.8) than men (71.8), with financial well-being as the main predictor of this difference, suggesting women have not benefitted from wealth accumulation or superannuation benefits as much as men.
Retirement village managers who would like to access a detailed copy of The Catalyst Report to gain insights into their ongoing business development can contact kevin@ catalystresearch.com.au.
Peter O’Dempsey, Head of Media & Public Relations
Aged & Community Care Providers Association