Expansion in retirement living and residential aged care has been identified as one of 25 opportunities for economic growth in Australia. A relatively wealthier, ageing baby boomer generation looking to maintain their expectations will transform the market for nursing homes.
Through new research, professional services firm Deloitte has identified that a major reason for this expected growth is due to the soon to retire baby boomer generation. The building and construction industries will benefit from this, with opportunities for business growth in this area presenting themselves. The thrive in aged care in the past has leaned towards care given at home, however it is anticipated that a wave of change will come about with potential residents having the funds to pay for better quality care.
With considerable superannuation, assets and wealth, coupled with higher ambitious expectations over previous generations, it is predicted that retirees will be more likely looking to enjoy private facilities, personal tailored services and highly skilled care staff, with scenic gardens and complimentary features.
There are early signs of this trend showing throughout the country, with construction numbers of luxury nursing homes going up and the value offering to residents becoming more competitive. We have been involved in numerous developments of this kind, providing a multi-disciplinary service spanning from Structural and Civil Engineering to Geotechnical and Energy services. Our experience and ability to deliver an all in one package for our clients is what makes us stand out when our clients want cost and time savings and efficiency.
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