Calvary offered affordable rentals for retirees, it was full within 72 hours

As cost of living pressures continue to mount, and data showing that 20 per cent of older Australians are retiring into poverty, one aged care provider has had an overwhelming response to it's affordable rental offering.

Calvary Health Care’s Sydney Williams retirement village, located in Melbourne, filled it's eight one- and two-bedroom units within three days of opening.

Mark Eagleston of Calvary's strategic operations and performance team, said the demand for affordable living options among retirees is increasing.

“We had more than 50 enquiries in the first week alone when the units went on the market in February, and all eight units were snapped up within 72 hours of us conducting the first tour,” he said.

“The enquiry rate and response shows a shift in the needs of senior Australians, many of whom are
impacted by cost-of-living and other financial pressures.

“We had a range of different people come through, some who have never owned property and always
rented, and some who didn’t quite have the lump sum needed to buy into a retirement village.

“The landscape of seniors’ living is changing, and we need to be offering choice. A rental option gives
people who might be struggling or dealing with changes in their life circumstances choice, dignity and a
level of flexibility so that they too can have a good quality of life.”

Built alongside one of Calvary's existing residential aged care facilities, Williams retirement village is the organisation's first dedicated rental option for older people.

“The location of the site itself ticked the boxes of good quality accommodation and affordability in the Melbourne market, and the residents will enjoy the same services and benefits of a [retirement] village, like social connections, low maintenance living, and security, but without the lump sum ingoing contribution,” Mr Eagleston said.

“Calvary’s aim is to provide great, connected care. Being co-located with our Millward Residential Aged Care Facility will be of benefit for those thinking about their future care needs. Residents will also have access to additional services they can pay for including meals through the neighbouring aged care home, and Calvary’s Home Care services to assist with ageing in place for as long as possible if they need.”

Related: Most retirees who rent live in poverty. Here’s how boosting rent assistance could help lift them out of it | Not so “lucky country”: 1 in 5 Aussies retiring to poverty | ‘National scandal’: Only 1-in-100 rentals are affordable for essential workers

Cost of living and aged care

Older people are amongst some of the hardest hit demographics when it comes to cost-of-living pressures, leading organisations like Catholic Health Australia (CHA) to call for greater protections for older people experiencing financial hardship.

“While we welcome the reforms of the Aged Care Act, we must keep working to ensure that aged care remains accessible for everyone, not just those with the deepest pockets,” CHA chief Jason Kara said.

“We are concerned the current safety nets in place are inadequate and will potentially see thousands of disadvantaged people miss out on the care they need.”

In a pre-budget submission CHA has urged the federal government to increase the accommodation supplement designed to aid aged care providers in their support of financially disadvantaged residents and ensure that nobody slips through the cracks.

“The current supplement simply does not cover costs,” Mr Kara said.

“Without an increase, aged care providers will be unable to sustain quality residential care for low-means older Australians.” 

“The government must urgently provide detail on hardship provisions and set maximum timeframes to ensure no-one gets left behind while waiting to find out if they qualify.”