What Retirees Want / by Grey Space

Grey Space is often called upon to recommend to our clients how best to position their product to reflect their brand to improve sales and be competitive in market in the future. So it was interesting when we came across the results of a recent survey by DoComeMonday. 

 Source:  DoComeMonday (https://www.theweeklysource.com.au/the-village-consumer-is-changed-forever/#prettyPhoto)  "In January we (Stockland)  commissioned the villages.com.au National Residents Survey delivering 19,600 residents, plus a survey of 1,100 potential residents. We then extracted the residents who had purchased a village home in the past 24 months (new residents).  The chart above displays what was ‘extremely important’ to new residents (dark orange bar) and potential residents (light orange bar)."

Source:  DoComeMonday (https://www.theweeklysource.com.au/the-village-consumer-is-changed-forever/#prettyPhoto)

"In January we (Stockland)  commissioned the villages.com.au National Residents Survey delivering 19,600 residents, plus a survey of 1,100 potential residents. We then extracted the residents who had purchased a village home in the past 24 months (new residents).
The chart above displays what was ‘extremely important’ to new residents (dark orange bar) and potential residents (light orange bar)."

From our perspective as designers of villages, the chart also shows that product appeal, security features, accessibility, planning and quality/price are more important than Retirement Village operators and developers realise.  It is also obvious the "perceived" importance to potential residents of these features is even greater than that of the existing residents - therefore attention to these features is a clear sales point for Developments.  Consequently be being at the forefront of these critical differentiators are crucial to the success of Developments.

We also interpret the information in the graph as meaning the importance of developments which allow for ageing in place and are a safe environment (particularly for potential residents) are a sought after feature.  Both of these features can be delivered via good design, and if considered early in the development process should be able to be incorporated without overly impacting the development costs.

For Developers their site and the site context is the starting point, but the right master plan is key and drives which attributes can be included at a price point the locality can support.    

We keep in touch with what the market is demanding and who is developing what type of product; often more thoroughly than our clients can or have the time to do because we are truely focused on this sector. 

It is this commitment and insight that drives Grey Space's design recommendations.