Lifestyle Communities have acquired a new site in Leopold on the Bellarine Peninsula in Victoria. This increases their number of communities to 26 with 5,391 homes.
Lifestyle provides affordable, quality homes in active lifestyle communities for the over 50s, such as this one at Mount Duneed, Victoria:
According to the Australian Bureau of Statistics, in the next 25 years the proportion of Australians aged 65 and over is projected to increase from 14.2% to 20%, and the proportion of Australians aged 85 and over will double from 1.8% to 3.6%.
ethical mandate to do the right thing.
James Kelly, Lifestyle Communities Founder and Managing Director
Within this ageing population there is a high demand for affordable housing. 82% of seniors own their own homes without mortgages, but 80% have less than $100,000 in superannuation.
ASFA analysis shows that a couple requires $60,843 a year to fund a comfortable retirement but the age pension is only $31,995. To fund this shortfall, seniors often need to release capital from their home.
“I started Lifestyle Communities with a moral and ethical mandate to do the right thing. We back-solved the rental to ensure it was lower than housing commission rental. It (the average rent) currently sits at around 20% of the pension, which ensures no rental stress” – James Kelly, Lifestyle Communities Founder and Managing Director.
At NorthStar, we love their commitment to affordable housing for seniors but also their focus on physical activity and social connection.
In addition, we applaud their strategies to reduce carbon emissions.