RSS FeedRSS Feed

Number of over 55s has doubled in UK leading to increase in retirement development 4th October 2013

Number of over 55s has doubled in UK leading to increase in retirement development

With an ageing population it remains vital that Britain continues to explore the best ways of accommodating the needs of its senior citizens, a retirement scheme expert has warned.

Kate Hutton, retirement scheme operations manager at CPBigwood, said the Government’s growing policy emphasis on promoting independence for older people was hugely important.

With an average life expectancy of 82.5 for women and 78.5 for men, there is going to be a growing demand for retirement villages, complexes and independent living apartments.

Ms Hutton said: “Retirement apartments allow us to address the current shortage of homes suitable for later life.

“But this also releases significant numbers of under-occupied properties, helping to tackle the wider housing shortage across the country and, given the rising birth rate in areas like Birmingham, meeting the requirements of families.

“Market research shows that the number of over 55s in the UK has doubled in the last decade, leading to increased planning applications and construction of retirement developments.

“Entire communities from individual purpose built apartment blocks to village schemes are springing up, catering for the differing levels of care required and indeed expected.

For example, in the year to 31 May, Churchill Retirement Living’s turnover increased 12.7 per cent to £61.3 million with the retirement builder delivering 13 per cent more apartments, proving how great a need there is for this type of housing.

“Baby boomers, who have done very nicely out of the housing market over the decades, are now downsizing, looking for spacious apartments with local amenities close by. They want safety and security; somewhere they can lock up and leave.”

There are different levels of care offered in apartment living. 

“Independent living is the desired option for us all – staying independent for as long as possible with the back-up of a 24 hour help line for peace of mind."

“Assisted living – where a warden will call on a daily basis offering a range of domestic services – is also proving popular. And many apartment blocks now have care homes adjacent to them, meaning one spouse can live independently whilst the other’s greater needs can be catered for, a process called close care living.

“Conversely, a significant number of elderly people are not keen to reside in the larger schemes, which provides an opportunity for independent developers to start considering building the smaller blocks where there is more privacy available, a facility which often appeals to the more reserved person.”

“These days retirement living is seen by older people as a positive. It promotes choice, independence and quality of life.

“Many elderly people have worked hard, brought up a family and been an asset to their community. It is important they are able to enjoy their twilight years.”


Recent Headlines

Click here for more news stories...

Commercial Property Events

Have you any commercial property events you'd like to tell us about? It could be networking, exhibitions, seminars, industry lunches or sporting fixtures. We will list them for free. Just email newsdesk@propnews.co.uk with the following details: Event name, date, time, venue, cost, booking info and a brief description of the event.

Commercial Property Jobs

To list your property job vacancies on Property News. Email: richenda@propnews.co.uk.

Sign up to our free e-alerts for all your property news and views.
Follow Property News on Facebook Follow Property News on Twitter Follow Property News on Google+ Follow Property News on Linkedin Property News RSS Feed