Don't panic Roger me old mate they still have over 12 million shares but Sum need to up their game in a few areas this year IMO if they are to grow at the rate we all hope for.
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thought that somebody must have purchased all these shares Milford disposed of: Fisher Funds just disclosed that they now hold above 5% (i.e. start of a substantial shareholding). I guess time will tell who made the better deal (Milford or Fisher Funds), I am still holding.
A bit of newguy's work?
Maybe not
http://www.nzherald.co.nz/business/n...ectid=11264161
As always winner69 thank you for the link.
I think over the next few years we will see "new" models of housing and retirement type communities/villages for our aging population.It is interesting to note Norah Barlow has joined the board of INA in Australia, whose approach/solutions are some what different to what New Zealanders are used to.They are buying up holiday /caravan Parks and are converting them to Lifestyle Parks,while retaining a lot of units for holiday use,spare land is being used to house retirees in mobil home units.These are cheaper and built a lot faster than permant buildings.In most cases you can own these units [and can sell them] and pay rent on the land only.They are working with local authorities to make sure residents in their villages receive all the services they are entitled to receive ,rather than going into "total care."
On a recent visit to Nelson I noticed a lot of permanent residents living at Tahunanui Beach Holiday Park.They had a large section of the Park to themselves.It appears to work well.Here residents own their own homes/units and appear to just pay rent.
I guess these units sell for about $75,000 to $130,000,so they are a lot cheaper than the $600,000 to $1mil units referred to in your article.
INA are looking to sell some of their "usual" retirement villages,to "recycle" the money into more profitable "Lifestyle Parks."
So I think we will see a great deal of choice in future for our rapidly growing aging population.People with modest capital will not miss out.
That's interesting, percy, and no doubt such an arrangement will suit a lot of people.
But without the "care" facilities, hospital, dementia unit etc that form part of the better villages, are they anything more than a step along the way for the increasing number of older folk who need, or will need these services?
I think you will see more care facilities,hospital,dementia unites built.So I take it you stay as long as you can in your "Lifestyle Park" until you need to move into "total care ". INA refer to "clusters" where they have Lifestyle Parks,retirement villages near each other.ie Sydney cluster,Newcastle cluster,Northcoast cluster. So you would move from Lifestyle to "total care",not far from where you have been living.You would sell your unit.How far your money would go in providing total care I do not know.
Thanks, percy. I was really thinking of the Tahuna Park Holiday Park scenario, rather than the planned clusters.
Cheers
An awful lot of long term speculation in that report. Fact is home ownership is strong for over 50's and the average age of people moving into retirement villages is 78, (I asked julian Cook this question myself so that's straight from the horses mouth), so the pipeline for new entrants for the next 30 years looks good, which frankly is all I'm concerned with as odds are I won't be here much longer than that.
I also believe as does he that over time the Auckland housing supply issues will sort themselves out, e.g. I was driving down past Ardmore airfield the other day and there's tens of thousands of acres of flat land around there that could easily be re-zoned residential. Its all about Auckland city council getting off their lazy butts and allowing more land for development.
I do not think that if you have a licence to occupy for one of the retirement units in a Summerset village, for example, that it guarantees a place in the hospital or rest home block. You will still be subject to waiting lists. While you may well be given preference in the waiting list, when your time comes to shift into a nursing home, it is normally an urgent situation and so you may well have to go elsewhere. Moving into a rest home (as opposed to private hospital) may not have the same amount of urgency so if you are "lucky" if you may be able to wait your turn on the list.. So your licence to occupy even in a fully equipped village may still be just a stepping stone.