Australia Senior Living Market Report and Forecast 2025-2034

Australia Senior Living Market Outlook

The Australia senior living market size is projected to grow at a CAGR of 6.07% between 2025 and 2034.

Key Takeaways

• The Australia Bureau of Statistics reported that the Australian Capital Territory had the highest life expectancy among males (82.2 years) and females (86.0 years), leading to an increasing need for assisted living and nursing care.

• As per the Australian Department of Health and Aged Care, the Aged Care Quality and Safety Commission aids individuals, families, and carers in aged care. Quality care is a fundamental entitlement under the Charter of Aged Care Rights.

• According to the latest population projections from the Australian Bureau of Statistics (ABS), the count of Australians aged 85 years and older is set to double by 2042, surpassing 1 million individuals, thus boosting the Australia senior living market.

Assisted living significantly contributes to the Australia senior living market growth by offering personalized care plans catering to residents' specific requirements, including aid with daily activities like bathing, dressing, and medication management, based on property type

Assisted living provides personalized care, safety features, social engagement, nutritious meals, housekeeping, maintenance-free living, on-site healthcare services, and peace of mind for families, ensuring seniors' well-being, comfort, and a sense of community in a secure environment.

In August 2023, Australian Unity unveiled the new Albert Park vertical aged care residence - The Alba. The adaptive reuse project, called The Alba, is spread across 15 stories and includes 95 residential care suites and 60 easy-living apartments. The Alba’s easy-living apartments will allow older individuals to live independently, while having support just around the corner, such as domestic assistance, personal care, and dining choices.

Independent living offers an active lifestyle with amenities like fitness centers, pools, and golf courses. Residents enjoy freedom, social activities, maintenance-free living, safety measures, and a range of services. Communities often facilitate easy transitions to higher care levels if needed, promoting long-term well-being.

Market Segmentation

Australia Senior Living Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments

Market Breakup by Property Type

• Assisted Living

• Independent Living

• Memory Care

• Nursing Care

• Others

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

The Australia senior living market key players are Settlers Apartments Pty Ltd Group Homes Australia Pty Ltd, RA (Holding) 2014 PTY Limited, agedcare101 Pty Ltd., LDK Healthcare Pty Ltd., Aveo Group Limited, Keyton Holding Pty Limited, Adventist Senior Living and Living Choice Australia Pty Ltd. among others.

Key Highlights of the Report