Juniper Aged Care welcomes the WA Government’s launch of the $100 million Low-Interest Loan Scheme to expand aged care infrastructure across the State.
The Loan Scheme, which was announced today by the WA Minister for Aged Care and Seniors, Simone McGurk, offers concessional finance at interest rates below those typically available through commercial lending, enabling aged care providers to build new aged care beds, refurbish and expand aged care infrastructure.
The Loan Scheme has been designed to speed up investment in residential aged care, support industry growth, and promote efficient service delivery by building purpose-built aged care facilities, easing pressure on health services and improving outcomes for older Western Australians.
Juniper CEO Russell Bricknell said the announcement was a key step in the Government fulfilling its election commitment to support the construction, upgrade, or refurbishment of aged care facilities across Western Australia.
“This is a sign the State Government is prioritising the needs of older people and helping address the shortage of beds in WA – something the Commonwealth should be doing as well,” Mr Bricknell said.
“Juniper has been advocating for measures like this for some time, particularly as demand for aged care continues to increase across metropolitan, regional and remote WA. Concessional loans of this nature will support providers to build new beds, refurbish ageing facilities and deliver purpose-built environments that better meet the needs of older Western Australians.”
Western Australia, like the rest of the country, is experiencing a rapidly ageing population, with demand for residential aged care growing steadily. Over the past five years, WA’s population has grown by more than 300,000 people, many of them retirees or those supporting ageing loved ones.
There are only 65.5 residential places available per 1,000 people aged 70 and over in Western Australia – figures that represent real people who are missing out on essential support.
Providers are under increasing pressure to deliver modern, safe and fit-for-purpose facilities while operating in a challenging financial environment, including rising construction costs. Western Australia has the highest construction costs in the country with the cost of building around $750,000 per bed.
Mr. Bricknell said he welcomed initiatives that reduced the cost of capital as it meant providers would be able to invest in building more beds with greater confidence. He added access to affordable funding has long been a challenge for the sector and the Low-Interest Loan Scheme offers a practical and timely solution.
“This scheme will help ensure aged care services remain accessible and sustainable into the future, while also easing pressure on the broader health system and supporting local jobs in both construction and care,” Mr Bricknell said. “By focussing on concessional residents, it also ensures people without means will not be left behind.”
Juniper has a number of projects ready for progressing through a loan application process and is looking forward to partnering with the State Government to deliver more services for older Western Australians.
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