Over the same timeframe, life expectancy is tipped to increase by 3.7 years for males and females combined.
The average lifespan of a male will increase from 81.5 to 83.8, while females are expected to live longer, reaching 87.1, up from 85.4.
2024 Population Statement – over 75 population
| FY24 | FY35 | % change | |
| NSW | 698,100 | 998,200 | 43.0% |
| VIC | 541,400 | 805,400 | 48.8% |
| QLD | 433,700 | 676,700 | 56.0% |
| SA | 179,500 | 258,300 | 43.9% |
| WA | 215,300 | 338,100 | 57.0% |
| TAS | 56,900 | 86,900 | 52.7% |
| NT | 8,400 | 15,000 | 78.6% |
| ACT | 30,800 | 46,900 | 52.3% |
These latest population projections come less than 48 hours after the Commonwealth committed more than $5 million to initiate a pilot program for the Retirement Living Council's 'Shared Care' framework - a blueprint for delivering more home care more efficiently.
The Retirement Living Council's 'Shared Care' pilot program will demonstrate that retirement villages can help alleviate pressure on the health system while allowing older Australians to receive care in the communities they love.
Executive Director of the Retirement Living Council, Daniel Gannon, said Australians are living longer, but the appropriate health, housing and aged care initiatives aren't in place to cope with the incoming silver tsunami.
"Age-friendly housing supply, gold-plated health systems and innovative home care solutions have never been more crucial for our country," Mr Gannon said.
"Data doesn't lie. These projections show the number of Australians aged 75 and over will increase drastically over the next decade, leading to housing and healthcare challenges for consumers and governments alike.
"Governments need to prioritise innovation to address this silver tsunami, which means embracing privately funded retirement villages to help accommodate and care for older Australians.
"We have a triple threat on our hands in Australia when we combine a rapidly ageing population, chronic housing supply deficit, and struggling healthcare systems.
"Governments need to think outside the box and investigate every lever - like retirement villages -that can alleviate system pressures.
"We know retirement villages are saving the Commonwealth Government almost $950 million every year because people residing in these communities live happier and healthier lives for longer, prolonging the need for aged care."
