The Tuesday WRAP – Retirement living year in review with Chris Baynes
In the last Tuesday WRAP for 2020, Chris Baynes provides DCM Group’s annual retirement living year in review.
As Chris explains, it’s been a year of contrasts for operators.
On the one hand, as reflected in DCM Research’s 2020 National Resident Survey, an increased sense of vulnerability drove strong sales for many operators.
But on the other side of the coin the positive perception of retirement villages sunk from an already low 37% recorded two years ago to just 27%.
In fact, as DCM Research shows, just 3% of active retirees are now considering villages.
But as Chris explains in the Tuesday WRAP, there’s more to this than meets the eye.
The opportunity is there for operators to drive real village growth if they can identify the correct value proposition and a strong marketing offering.
Paul Browne’s LDK Healthcare is a great example.
LDK’s ‘One Move Promise’ marketing push saw the operator sell over 130 village homes for in excess of $100 million in their one Canberra village this year alone.
Not a bad achievement, when you consider the operating conditions.
As Chris says, the key thing to take from 2020 is there clearly is work that needs to be done.
But this year has been a great demonstration that, while the sector has its challenges, there are still plenty of operators out there doing great things.
You can read the full, detailed year in review on The Weekly SOURCE site here.