Market Update, September 2023
The Australian childcare market is a dynamic and ever-evolving landscape. However, one thing remains certain: the demand for high-quality, affordable childcare continues to grow rapidly.
In September, the Department of Education reported that the average occupancy rate reached its peak for the year at 82.5%. This increase indicates a strong trend of parents returning to the workforce and enrolling their children in childcare facilities.
Additionally, the average cost of long day care in Australia for September 2023 is $118.36 per day, before Child Care Subsidy (CCS).
However, it is important to note that the cost of long day care can vary depending on a number of factors, including the location of the service, the hours of care required, and the level of care provided.
Despite these fluctuations, the childcare market remains robust. If you own a childcare business and have contemplated selling, now is an opportune time to leverage these favourable market conditions. We have a network of reputable buyers eager to purchase, and we would be delighted to assist you in taking the next step.
Childcare Staff Shortage
Many childcare operators are still grappling with a shortage of childcare workers. According to the Australian Childcare Alliance, there are currently over 100,000 open childcare positions in Australia.
This shortage is placing a strain on childcare providers. Now, more than ever, it’s important for providers to focus on implementing a great culture for their staff in order to minimise staff turnover.
