Strong ongoing demand for seniors housing in Perth, due to the city’s ageing population and existing health and other services, has seen the launch of several major new projects in established suburbs.
Seniors Own Real Estate managing director Mike Graebner gave Downsizing.com.au an overview of the WA marketplace.
Mr Graebner said he was currently marketing a new project, Odyssey at Beaumaris Beach, in the northern suburb of Iluka (see photo above). The oceanside project will be formally launched on March 30.
Developed by the Brightwater Care Group, the project includes 58 seniors living apartments built to the Liveable Housing Australia Gold Standard. This means apartments have been designed to allow future residents to “age in place”.
The project also includes a range of resident facilities, including a 10m long swimming pool, large central open space, a gym and communal lounge, workshop and garden spaces.
Mr Graebner also said that a new 52 premium apartment project in Scarborough, at Perth’s northern beaches, will be launched in the near future.
To be called Altum Residences, it is being developed by the Northerly Group and has also been designed around the Liveable Housing concept to make it easy for people to stay longer as they age. Services will be provided as and when people need them.
Another project currently in the marketplace is the Australis on Rossmoyne Waters retirement village project. This project includes 86 architecturally-designed apartments, over seven storeys with 15 apartment styles.
In regard to seniors housing outside of Perth, Mr Graebner said: “Generally, when the real estate market slows down, as has been the case in the last few years, WA regional areas find it tougher than the metropolitan area.”
“This means even more choice and offers good options for people to downsize and free up capital, particularly if contemplating a lifestyle change from the city to the country”.
Mr Graebner said the coastal areas of Mandurah, which is 75km south of Perth, and Bunbury, some 175km south of Perth, presented two of the more affordable options for retirees at present.
Mr Graebner also said some traditional apartment developers in Perth were beginning to market their units towards downsizers.
“Developers are realising the traditional market of investors and first home buyers has dried up at present, so they are tending to target retirees, although these apartments tend not to be designed for ageing in place,” Mr Graebner said.
One focus for new apartment development is the 9.4 hectare Claremont on the Park precinct, in Perth’s inner-west. This precinct is set around the home ground of the Claremont Australian Rules club and is also near the Claremont Railway Station.
The initial government structure plan for the site was approved in 2010, with the first apartment site released for sale to developers in 2012. The first residents moved into the precinct in 2016, with construction continuing on other projects.
Over time, the precinct is expected to include a range of housing options, including general apartments, seniors housing and aged care facilities. Eventually, some 750 homes are expected to be located around the ground.
Mr Graebner said he expected an improvement in market conditions across the State by the second half of 2019.