The 2016 Survey of Aged Care Homes estimated that a total of $1.6 billion in new building, refurbishment and upgrading work was completed during 2015-16, involving about 24 per cent of all homes. The amount of new building work in progress at the end of June 2016 was estimated at $2.9 billion, involving about 17.8 per cent of all homes. In 2015-16 there was a decrease of $184 million (-11 per cent) in completed new building, refurbishment and upgrading work compared with 2014-15. However, there was an increase of $900 million (43 per cent) in work-in-progress during the same period. ACFA notes that the total spend on building activity was 18 per cent higher in 2015-16 at over $4.5 billion, compared with around $3.8 billion reported in 2014-15 (Chart 10.8). ACFA concludes that investors are continuing to respond positively to the 1 July 2014 reforms and are showing interest in investments that leverage the ageing demographic. Residential aged care building activity, 2013-14 and 2015-16 Building and construction statistics Chart 10.9 shows the proportion of homes planning to either rebuild or upgrade over the period 201314 to 2015-16. The proportion across 2014-15 and 2015-16 is relatively stable. Proportion of homes planning to either upgrade or rebuild in 2013-14 and 2015-16 As was the case in last year’s report, building statistics data from the Australian Bureau of Statistics are showing strong signs of investment in the sector. There were 395 building approvals for aged care homes in the 12 months up to the end of February 2017, up from 372 for the same period up to February 2016 (Chart 10.10). Residential aged care building approvals, 2011-12 to 2016-17 Note: Dates are from March to February The value of building approvals has decreased, with average monthly total building approvals for aged care services in the 12 months to February 2017 being $149 million per month, compared with $168 million (per month) in the previous 12 months (Chart 10.11). Number of building approvals by value of building work, 2012-13 to 2016-17
The 2016 Survey of Aged Care Homes estimated that a total of $1.6 billion in new building, refurbishment and upgrading work was completed during 2015-16, involving about 24 per cent of all homes. The amount of new building work in progress at the end of June 2016 was estimated at $2.9 billion, involving about 17.8 per cent of all homes. In 2015-16 there was a decrease of $184 million (-11 per cent) in completed new building, refurbishment and upgrading work compared with 2014-15. However, there was an increase of $900 million (43 per cent) in work-in-progress during the same period. ACFA notes that the total spend on building activity was 18 per cent higher in 2015-16 at over $4.5 billion, compared with around $3.8 billion reported in 2014-15 (Chart 10.8). ACFA concludes that investors are continuing to respond positively to the 1 July 2014 reforms and are showing interest in investments that leverage the ageing demographic. Residential aged care building activity, 2013-14 and 2015-16 Building and construction statistics Chart 10.9 shows the proportion of homes planning to either rebuild or upgrade over the period 201314 to 2015-16. The proportion across 2014-15 and 2015-16 is relatively stable. Proportion of homes planning to either upgrade or rebuild in 2013-14 and 2015-16 As was the case in last year’s report, building statistics data from the Australian Bureau of Statistics are showing strong signs of investment in the sector. There were 395 building approvals for aged care homes in the 12 months up to the end of February 2017, up from 372 for the same period up to February 2016 (Chart 10.10). Residential aged care building approvals, 2011-12 to 2016-17 Note: Dates are from March to February The value of building approvals has decreased, with average monthly total building approvals for aged care services in the 12 months to February 2017 being $149 million per month, compared with $168 million (per month) in the previous 12 months (Chart 10.11). Number of building approvals by value of building work, 2012-13 to 2016-17
acfa_full_report_2017_kc_01k.docx