WEBVTT - Quick bite: Are we prepared for a rapidly aging population?

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<v Speaker 1>You're listening to a shares these podcast We're all getting older,

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<v Speaker 1>all of us apparently. Are we still on track? What

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<v Speaker 1>to sort of hit? I think something like a million

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<v Speaker 1>people over seventy five by when twenty thirty forty years.

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<v Speaker 2>Yeah. Look, essentially by twenty forty the population goes from

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<v Speaker 2>four hundred thousand Ye Zealanders over seventy five to eight

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<v Speaker 2>hundred thousand YEW Zealanders over seventy five. It's a massive

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<v Speaker 2>change in the demographic. And I think even by twenty

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<v Speaker 2>thirty the number of eighty five year old goes up

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<v Speaker 2>by one hundred and twenty five thousand, and so, like

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<v Speaker 2>it's pretty quack like it's pretty close by now if

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<v Speaker 2>you think in the next five years, one hundred and

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<v Speaker 2>twenty five thousand extra people, you know, like we need

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<v Speaker 2>something like thirteen thousand extra here beds in this country

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<v Speaker 2>just to cope with that demand. In the next five years,

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<v Speaker 2>I think you're going to find that this is not

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<v Speaker 2>enough for timement village operators in New Zealand and five

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<v Speaker 2>ten years time, wow, and certainly there's going to be

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<v Speaker 2>not enough here beds in New Zealand, which is actually

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<v Speaker 2>pretty sad and Kreb.

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<v Speaker 1>It's offer a different level obviously, it's more like kind

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<v Speaker 1>of more like being in hospital.

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<v Speaker 2>Yeah, I mean, essentially, the way our villages work is

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<v Speaker 2>you've got a retirement village. You live your life independently. Essentially,

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<v Speaker 2>you have access to gym, swimming pool, spa, you know,

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<v Speaker 2>everything you want to do, you live your life. But

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<v Speaker 2>then if you know, if you'd need to help at

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<v Speaker 2>a point in time in life, we've got a separate,

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<v Speaker 2>sort of little medical hospital there. And as I said,

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<v Speaker 2>they're quite homely and sort of small in the way

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<v Speaker 2>that designs that they're quite private. But if you need

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<v Speaker 2>resk home or hospital level support, you know, you can

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<v Speaker 2>essentially be in that hospital environment, but still like maybe

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<v Speaker 2>twenty minutes away from your house where your partner maybe

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<v Speaker 2>still living and stuff, and that integration with your friends

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<v Speaker 2>in the village that you've built up, you know, a

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<v Speaker 2>friendship with over the last eight or ten years. You know,

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<v Speaker 2>they still come across and see you can still go

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<v Speaker 2>home for lunch at times, and so you know, we're

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<v Speaker 2>trying to design facilities so that, you know, people can

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<v Speaker 2>essentially live their life until they eventually pass away in

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<v Speaker 2>our villages. And yeah, that's sort of how aged care

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<v Speaker 2>is integrated with in retirement village living.

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<v Speaker 1>So your second biggest home builder.

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<v Speaker 2>Second largest home building in New Zealands.

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<v Speaker 1>Yeah, that's that's that's it's quite a bold plane. You've

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<v Speaker 1>never thought about how we could get into the wider

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<v Speaker 1>market there.

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<v Speaker 2>At times we have, like so we have actually done

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<v Speaker 2>a few. At times, you buy land and maybe twelve hectares.

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<v Speaker 2>Ideally you want about a hecta to build a broad

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<v Speaker 2>out of site, so you sit there and go what

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<v Speaker 2>do we do with the other four hectares? And so

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<v Speaker 2>we bought a site in pepper Moa that had some

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<v Speaker 2>spear lands, so we ended up doing a subdivision development

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<v Speaker 2>there as well. And that has no no connection to

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<v Speaker 2>Somerset per sale, like people wouldn't know it was us.

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<v Speaker 2>Essentially we did all the master planning for the site,

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<v Speaker 2>did all plots of land, did all the running infrastructure,

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<v Speaker 2>all the sort of civil's works, and then essentially sold

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<v Speaker 2>the home builders. But it is your right to say

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<v Speaker 2>it's it's not that far away from being a natural

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<v Speaker 2>extension for us. And to be honest, you know, like

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<v Speaker 2>if you talk about that demographic stuff we're talking about

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<v Speaker 2>before having you know, population doubling even just for that

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<v Speaker 2>older part of New Zealand that's probably to be honest

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<v Speaker 2>enough growth there for us, even just in that segment.

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<v Speaker 2>Investing involves for risk you might lose the money you

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<v Speaker 2>start with. We recommend talking to a licensed financial advisor.

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<v Speaker 1>We also recommend reading product disclosure documents before deciding to invest.