Penetration rate currently 13.9% according to JLL
Bay of Plenty 19.0% Auckland 18.1% and Gisborne 17.1% and Wellington 14.3% areas with highest penetration.
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Penetration starting to get up there in parts of N.Z., many thanks for sharing.
Sssshhh, don't tell Earl but I really like Summerset's one on the waterfront at Hobsonville. https://www.summerset.co.nz/find-a-v...monterey-park/
Nice waterfront 3 bedroom (really a house not a unit) 130 sq metres from memory, was $1.6m when I visited 3 years ago. Wonder what it is now :scared:
Wonder what OCA's apartments at Waimarie Street will sell for with their grandstand close up views of the Hauraki Golf. More than $3m surely ? Hope our friend know's how to really stick the boot in with pricing of those premier units...gotta cover the loss making care operations and leave us poor shareholders with a few quid for dividends eh ;)
Retirement Commissioner Jane Wrightson's 40 page paper on the retirement village industry recommends a policy review to consider:
an improved resale and buyback process for units;
restricting the charging of weekly fees after a resident vacates a unit;
I think it is well overdue.
Even though you are right it is not going to be high up the goverments priority list. To put it simply retirement operators like Oca are one of the few intergenerational wealth transfers going from boomers back to gen x and millenials. Does the govt really want to be seen to doing anything to look after that generation in the current climate ? Fair or not I just dont see regulation as a priority.
Buyers have assets. That means they have choices. There is no gun to their head.
We cleared everything out of my Mum's retirement unit by the end of January. Arena group are redeveloping that part of the village. Monthly fees stop straight away and they're paying us out in 4 months from the date we vacated the unit so a great result as far as we are concerned but I agree, fees should stop immediately and everyone should be paid out within 6 months.
RYM used to make a big deal about the fact that they used to do this...until they very quietly dropped that policy when it started to cost them money. In my opinion they lost reputation when they did that.
Leadership was better under Simon Challis in my opinion.