Stockland’s Managing Director and Chief Executive Officer, Mark Steinert, has recently commended South Australia as one of their most high-performing regions in the retirement village market, and urges consumers to ‘embrace changes’ unfolding in the state.

“South Australia has the highest proportion of over-65s in Australia living in retirement villages — at 8.5 per cent — and is going at twice the rate elsewhere,” he said. 

Stockland is renowned for staying true to a diversified portfolio of assets, and a strong move into the retirement and community sector has seen South Australia augment its importance within the Stockland brand.

“We have a proud history of community investment in SA, we have $130 million assets here, with $30 million expansion work under way,” he said.

Lightsview Retirement Village in northern Adelaide is an example of such investment, with its new clubhouse extension opened by deputy Premier John Rau earlier in July. Eleven of Stockland’s 65 retirement villages are in South Australia, but the group is focusing on expanding density of current villages, rather than acquisition of new properties.

Mr Steinert believes diversification is a way for villages to grow, with better use of communal space fundamental. “Lifestyles have changed much in last 20 years, people want to be an urban environment,” he said. “It’s lock up and travel but still provides them (residents) with that community feeling.”