Greater focus on retirement sector needed to alleviate pressures on the housing market

26 October 2015

McCarthy & Stone Later Living Development

McCarthy and Stone comment: greater focus on retirement sector needed to alleviate pressures on the housing market

Commenting on a report from consultancy Savills on the need to increase retirement house building, Paul Teverson, director of communications at the UK’s leading retirement housebuilder McCarthy and Stone, says:

“Building quality housing in the retirement sector is essential, not only to provide a high standard of living for our increasingly active older generation, but also to release existing dwellings back into the mainstream market. We know that our homeowners typically sell larger houses before moving into a McCarthy and Stone property so this has the potential to stimulate new housing chains and mediate price increases.

“Our market is the 3.5 million older people who are interested in moving to a suitable property in later life - this is not about forcing people to move if they do not want to.

“We’re focused on building desirable and attractive housing for older people and are planning to invest £2.5 billion in new developments over the next four years. But the UK needs a drastic increase in provision even beyond our plans given those aged 65 and over are estimated to grow by more than 50% from 11.4 million to 17.2 million by 2033.

"We therefore welcome this report and its call for addressing the local and national town planning barriers that exist and which are restricting expansion and investment in this important and under supplied part of the housing market."

ENDS

Notes to editors:

McCarthy & Stone is the UK’s leading retirement housebuilder, pioneering the concept of purpose-built, privately-owned accommodation for older people.  With a 70% share of the owner-occupied retirement housing market, the Company has built over 50,000 apartments in over 1,000 different locations, and currently has around 160 developments under construction or for sale in the UK. In November 2015 it opened its 200th managed development, while in 2014, its development at Kirkby Londsdale, Queen Elizabeth Court, won ‘Best Retirement Development UK’ at the UK Property Awards. 

McCarthy & Stone’s Retirement Living and Assisted Living developments offer one and two bedroom apartments across the country in a wide variety of locations, from city centres to rural villages and coastal locations.  Retirement Living developments offer the independence of retaining home ownership while living in an apartment specifically for the over-60s, as well as greater peace of mind and companionship. Assisted Living developments for the over-70s offer all of this, plus a helping hand through flexible care and support packages that make life that little bit easier. 

In early 2015, McCarthy & Stone launched its Ortus Homes offering. Exclusively for over-55s, these bespoke properties are intelligently designed for downsizing to enhance a homeowner’s leisure years.

McCarthy & Stone’s commitment to quality and customer service continues to be recognised by homeowners. For the ninth year running, the Company has been awarded five stars for customer satisfaction in an independent survey conducted by the Home Builders Federation (HBF).