The latest Grattan Institute’s Renting in Retirement Report (Feb 2025), paints a sobering picture for one group; retirees who rent in the private market. Two-thirds of this group live in poverty, including more than three in four single women living alone. Retirees who rent often have little in the way of retirement savings: more than half have less than $25,000 stashed away, and a growing number of older Australians are at risk of becoming homeless.
According to the Australian Bureau of Statistics, a greater percentage of Geelong’s population is aged over 65 years than Melbourne. Many live on limited income and affordable rental accommodation, defined as costing a maximum of 30% of gross income, can be difficult to find in Geelong.
Locally, the City of Greater Geelong’s Housing Plan reports that 26% of private renters are in housing stress (spending over 30% of income on rent). Households experiencing rental stress are generally considered to be more at risk of homelessness than households experiencing mortgage stress as they are at risk of eviction for non-payment of rent, are at risk of rent increases at the discretion of the landlord, as well as adverse actions by landlords.
The 2025 Sirovilla Rental Market Monitor – which samples private rental units in areas surrounding Sirovilla villages shows 97% of 1 bed rentals for singles and 100% of 2 bed rentals for couples would place those on an aged pension in housing stress, with the rent on 89% of all units representing 30% to 59% of a person on an aged pension’s weekly income.
Sirovilla provides low-cost long-term community housing for seniors aged 67+ across four villages – Highton, Anglesea, Point Lonsdale and Lorne, – for those able to live independently. Unlike traditional retirement villages, residents are offered 1 or 2-bed units under a secure “leased for life” model, allocated by application order.
Many residents enter Sirovilla with minimal savings and rely solely on the aged pension. Rent is capped at 25% of income plus the Commonwealth Rent Assistance (CRA), currently (June 2025) equivalent to 60% of market rent on the Surf Coast and 71% in Highton.
Sirovilla residents frequently express relief at finding a safe, secure and long-term home at Sirovilla. In the 2025 Sirovilla Resident Survey, 100% of residents rated security of tenure and rental affordability as important, or very important, with 80% and 79% respectively rating them as very important.
If you or someone you know would like to apply to secure a place on the Sirovilla Register of Interest, please “Apply Now” here or click on the Apply Now button at the top of this webpage