Luxury retirement living on the Northern Beaches 

Developers are moving fast to meet demand for high-end retirement villages on Sydney’s Northern Beaches. The transformation is already well underway. At Harbord Diggers, Watermark has delivered 96 new units. Dee Why RSL’s Ocean Grove offers 76, with plans for more. Forestville RSL has committed $77 million to build 55 luxury residences, while the Builders Club in Dee Why is moving forward with its own plans. In Narrabeen, the Wesley Taylor site is slated for a $220 million development with 120 units, and at Allambie Heights Village, construction is wrapping up on 24 new units priced between $1.6 million and $2.4 million.

And then there’s the big one. Just before Christmas, Aveo announced a partnership with the NSW Government to redevelop the old Manly Hospital site. Marketed as a “health and wellbeing precinct,” its financial viability will likely depend on just how many luxury retirement village units are included in the final plan.

But new developments are only half the story. Across the Northern Beaches, there are already around 4,000 retirement village units. Some sit vacant for months, a potential red flag for incoming buyers. Others are snapped up before they even make it to market, available only to those who joined a waiting list well in advance. The market moves quickly, and while retirement village living is often considered over several years, many who have made the move say the same thing – they wish they had done it sooner.

The average person moves into a retirement village at 75, and the average resident is 81. The workload of such a move is immense, far beyond simply de-cluttering and buying new furniture. Every contract is different, with layers of complexity around exit fees, ongoing costs, and what happens if care needs change. While many villages market themselves as a forever home, the reality is that 60 percent of residents will eventually require a residential aged care bed. These transitions can be fraught, particularly when families are faced with unexpected costs at a difficult time.

There has been growing awareness of the risks of signing a contract without fully understanding its implications. Last year, the Retirement Village Residents Association of NSW conducted a survey in response to the ABC’s 7.30 Report segment, Retirement Village Rip-Off. Their findings confirmed what many suspected – half of all residents found their contracts confusing, and a significant number were concerned about exit fees. It’s a terrible position to be in, to have secured a beautiful home only to realise later that financial uncertainty is part of the deal. No one should have to live in luxury and fear at the same time.

The key is to take it slow. Understanding the financial realities of aged care and the mechanics of retirement village contracts isn’t always front of mind when the decision to move is about lifestyle, security, and connection. But the numbers matter. Making a considered choice now means you won’t be caught off guard later. For those looking at the growing number of high-end options on the Northern Beaches, a little more time spent asking the right questions will only improve this next stage of life.