Research Interests  
I am enrolled in the Doctorate of Philosophy in the School of Business, University of Technology, Sydney.

My areas of research include the following subject areas.

  • Specialised Seniors Accommodation Financial Metrics
  • International Comparison of Specialised Seniors Accommodation
 
       

Retirement Village Residents – Are They Healthier, Wealthier and Wiser?

Previous studies into DMF Retirement Villages have attempted to quantify the total number of villages, the types of owners/operators and estimated the number of residents. To date there has been little Australia wide analysis of retirement village residents to quantify this population group and measure whether they differ from residents in the surrounding locality and between regions. Australia's ageing population brings the requirement for age-appropriate accommodation therefore identifying how residents are utilising the existing retirement village product is of benefit to strategic decision makers, planners, investors, developers and village operators.

This research correlates individual retirement villages with smallest area of 2011 ABS Census data (Statistical Area Level 1 (SA1)) to build up a picture of Australian retirement village residents.

Report > > > > 173KB

 

Retirement Village Valuation Metrics October 2012

The owner/operator of a village receives their return at the end of residents’ tenure, therefore the value of this return can only be estimated based on projections including the length of tenure of the current and future residents, increase in sale price of units and future demand for units. This difficulty in projecting future returns results in an opaque market for investors , financiers and residents alike which has been cited as a contributing factor for the lack of enthusiasm by institutional investors in the sector. This paper presents original research into valuation metrics including the length of resident tenure (Duration) and the proportion of units which transact per annum (Turnovers) component parts used in the Monte Carlo simulation that is being applied to the DCF analysis that is increasingly being used in the sector.

Report > > > > 155KB

Retirement Village Resident Duration March 2012

Distribution of Resident Duration comprises initial analysis of a sample of retirement villages over time. This identifies a significant difference between the distribution of duration of initial residents and rollover residents. The latter group shows a significantly more skewed distribution with a mean nearly 50% of the former.

Summary > > > > 219KB

I am interested in receiving feedback on this preliminary analysis and can be contacted on

 


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Lois C Towart
BBus AssocDipVal FAPI
SF Fin

P.O. Box 322
Glebe NSW 2037
AUSTRALIA

Mobile 0409 652 370

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