A leading property industry advocate has called for high-quality, age appropriate housing options to be accessible for older residents of the Illawarra-Shoalhaven.
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A peak body for the retirement living sector has welcomed the NSW Government’s response to Kathryn Greiner’s inquiry into the NSW retirement village sector.
The report from the 10-month inquiry makes key recommendations on changes to the operation of the industry.
These include a mandatory Code of Conduct to set the standard for retirement village operators and to stamp out unscrupulous behaviour, Improved dispute resolution services for residents, and measures to improve transparency, which were also key priorities outlined in the industry’s Eight-Point Plan released in August last year.
Ben Myers, executive director of Retirement Living at the Property Council said the recommendations build on the industry’s Eight-Point Plan, especially the commitment the industry has made to developing a Code of Conduct, which was recently released for public comment.
Michelle Guido, Property Council Illawarra regional director said the Greiner Report and recommendations will be important to inform the significant body of work being carried out by the sector in NSW, and will support current and future reforms.
“With the population aged 65 and over rapidly growing, it’s vitally important that high-quality, age appropriate housing options exist and are accessible for people in the Illawarra-Shoalhaven region,” Ms Guido said.
“This means we need to be more proactive in improving the systems that can make retirement villages more accessible for the growing number of older members of our local communities.”
The Inquiry was ordered by the NSW Government after a series of reports about alleged misconduct in the sector, and ran from August to December 2017.
Parliamentary Secretary for the Illawarra Gareth Ward said that retirement village residents will be the big winners under the series of proposed NSW Government reforms to the sector.
“Illawarra residents heading into retirement will benefit significantly from these reforms, which put the power back in their hands,” Mr Ward said.
“This is about ensuring more transparency so they genuinely have a fair go if they choose to move into a retirement village.
“These reforms will put customers first and see greater protections for residents through increased transparency, improved dispute resolution and more certainty around costs.”
Meanwhile, the Property Council of Australia is also seeking public comment on a draft version of a new Retirement Living Code of Conduct, which all retirement community owners and operators will be encouraged to adopt to ensure high industry standards.
The code is an initiative backed by three peak bodies representing retirement living owners and operators; the Property Council of Australia, Leading Age Services Australia and Aged and Community Services Australia. “The Retirement Living Code of Conduct covers all aspects of a resident’s experience in a retirement community; from signing the contract to moving in, right through until the resident’s property is re-sold,” Ms Guido said.
“Once the code is finalised, the three organisations will promote it to the more than 3000 retirement communities across the country, including the Illawarra-Shoalhaven, and be encouraging them to sign up and commit to the code’s standards.”
The public can comment on the draft via the Property Council website until July 20.
Brendan Crabb
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
