Australia is an ageing nation. A study by McCrindle, Australia’s leading social researchers, conducted in 2014, easily establishes this. In 2014, approximately 15 percent of the population were people above the age of 65 years. Estimates suggest that this figure will rise to 17 percent in 2024. More importantly, by 2044, it is quite likely that one out of every five Australians will be over 65 years of age. In that same year, the researchers feel that Australia’s population pyramid will invert itself. Thus, the number of people over 60 years of age will surpass the number of people who are below 18 years of age for the first time.
It is worth highlighting that the median age of Australians is on the rise as well. In the 1980s, the median age of an Australian was 30.5 years. In 2044, this figure will likely touch 40. Similarly, life expectancy rates continue to improve as well. This is because Australians are living longer than ever before. In 1984, the life expectancy at birth was 75.8 years. Currently, this figure exceeds 80 years for males and 84 years for females. By 2044, this figure will cross the 90-year threshold. Researchers believe that in 2044, Australia will have 1.2 million more people above the age of 85 years. Given the lack of sufficient housing and care for the elderly at present, these numbers make it clear that Australia needs to do a lot more to keep abreast of the increasing demand for superlative aged care nursing homes and similar facilities.