McCrindle Baynes Villages Census 2011 summary
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McCrindle Baynes Villages Census 2011 summary

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McCrindle Research exists to conduct world class research and communicate the insights in innovative ways....

McCrindle Research exists to conduct world class research and communicate the insights in innovative ways.

The McCrindle Baynes Villages Census Report 2011 is Australia's benchmark industry report for the retirement villages sector.

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McCrindle Baynes Villages Census 2011 summary Presentation Transcript

  • 1. Research DesignDemographic rangeBaby Boomers and Builders GenerationPsychographic split7 segments analysedGeographic scopeEvery state and territory (except NT)Capital cities and regionalEast coast and West coastEconomic diversityRental villages and DMFRecent movers and long termers
  • 2. Process and Sample 57 question pen & paper survey 181 villages managed by 7 operators 10,603 respondents (18,000 survey forms distributed) Almost 1 in 10 of all Australian village residents 26% moved into village last 2 years 6 focus groups: Sydney, Perth, NSW Central Coast First analysis completed November 2011
  • 3. Over 65s 3.05 mil Series1Under 18s 5.22 mil
  • 4. 8.97 mil Over 65s 3.05 mil 7.00 milUnder 18s 2050 5.22 mil 2011
  • 5. Builders Defined Financially Baby Boomers Builders Generation (Australians aged 55-64) (Australians aged 65+)Median Net Worth $1,051,556 $872,052Median householdnet worth relative to Top 20% Top 40%all householdsPercentage ofpopulation 23% 13%Net worth as % ofnational private 33% 16%wealth
  • 6. How did you pay for your move into your retirement village? Sold our family home 1% 3% Family assistance 2% 9% Savings (including shares, superannuation) Took out a mortgage /bank 90% loan Other
  • 7. How influential were each of the following factors for you leaving your previous home? Your family was concerned – you thought all was… 3% 3% 5% 7% 82% Financial reasons – wanted to release money 3% 5% 9% 10% 73% Children / family / friends moving away from … 4% 4% 6% 6% 81% Changing neighbourhood 4% 6% 8% 9% 73% Loneliness 4% 5% 9% 9% 73%Concern about who would support you in the future 4% 6% 11% 13% 67% Isolation from your neighbours / safety 5% 8% 13% 12% 62% Want to spend more time with people like you 5% 8% 18% 17% 51% Not being able to drive 6% 4% 6% 5% 78% Needing to be closer to public transport / shops 8% 8% 10% 10% 64% Your health 10% 12% 18% 14% 46% Wanting to live closer to family / friends 10% 9% 9% 8% 64% Freedom from house responsibilities to be able to … 11% 18% 23% 16% 33% Proximity to medical services 11% 12% 13% 10% 53% Loss of your spouse 13% 7% 4% 3% 72%Need for a home specially designed for easier ageing 14% 20% 22% 16% 28% Home was too big to manage 14% 20% 18% 14% 34% Downsize while it was easy 15% 25% 24% 11% 24% Your partner’s health 19% 13% 11% 9% 48% Extremely influential Very influential Moderately influential Slightly influential Not at all influential
  • 8. How suitable was the ‘purchasing’ model and financial arrangements for you? 39% 58% Very suitable Reasonably suitable Not at all suitable To what extent was the village contract explained and did you feel you understood it before making the decision to move into your village? 40% 49% 11%Very well explained & I clearly understood it Fairly well explained & I somewhat understood itPoorly explained & I didn’t understand it well
  • 9. Will you pay a Deferred Management Fee(DMF) when you leave the village? Don’t know 24% Yes No 57% 19%
  • 10. 49% How important do you believe it is to have aged care in a village development? 30% 14% 3% 4%Extremely important Very important Somewhat Not at all important Don’t want aged important care operating in the village
  • 11. Prior to moving in to your village, how long had you been thinking of moving from your home? 37% 35% 17% 7% 2% 2%0 – 3 months 4 – 12 months 1-3 years 4-6 years 7-9 years 10-12 years
  • 12. Segmentation Profiles Generation Tradition: large but declining“it’s about the family you have and the legacy you leave”
  • 13. Segmentation ProfilesDownagers:large & growing “age is just a number”
  • 14. Segmentation ProfilesThrifty Outer City:moderate & growing “we have workedhard to get to where we are”
  • 15. Segmentation ProfilesUrban Nexter:moderate & growing“Our work is done.Now it’s time for us.”
  • 16. Segmentation ProfilesSolo Senior:moderate & growing “I have independence, yet I’m open to more”
  • 17. Segmentation ProfilesGrey Getaways:small but growing “Now it’s our time to live”
  • 18. Segmentation ProfilesSilver Styler:small but growing “I have options -I recognise quality”
  • 19. Did your social life improve or decline after moving in to the village? 48% 24% 16% 8% 3% My social life has My social life My social life stayed My social life My social lifesignificantly improved somewhat improved about the same somewhat declined significantly declinedafter moving into the after moving into the after moving into the after moving into the village village village village
  • 20. Commissioned by Conducted by