Comments by MD of Aevum Ltd today, confirm turnaround in Retirement Living.
****************************** Management Commentary According to Aevum Managing Director, Mr Steven Mann, the housing market has seen a strong turn around in 2009, due to lower interest rates, improving housing affordability to a seven year high and significant government first home owner incentives. This has created demand from the value end of the market and more recently investor finance has changed trajectory, also stimulating momentum in the second home market. These factors have seen a sharp improvement in our core turnover sales for retirement living, up 60% in the second half of the financial year. ............... “Due to the aging ‘baby boomer’ demographic, population growth of those over 65 years old is growing at twice the rate of the general population. This is a fundamental strength which will see the retirement living industry return to strong growth in the medium term”, Mr Mann added.
LLP Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
