Read about our support for the NHBC Foundation's new report - Retirement housing: Residents’ experiences

26 April 2016

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The National House Building Council (NHBC) Foundation yesterday launched a report entitled Retirement housing: Residents’ experiences, which finds that around nine out of 10 older people say they love their experience of living in retirement housing or enjoy it most of the time. With the UK’s rapidly ageing population, there is high demand in the UK for more quality retirement housing with residents citing companionship and community spirit as the biggest benefits of living in a retirement development, according to the report.

Commenting on the publication of the report, Gary Day, Group Land & Planning Director of McCarthy & Stone, said:

“We welcome the NHBC Foundation’s report, which reinforces our view of the increasing demand for retirement housing and highlights the growing attraction of retirement developments for people in later life. According to the report, around one million older people say they would consider moving into retirement housing. Our own research shows that a third of homeowners aged 55+ are considering or expect to consider downsizing, motivating by a range of measures such as lower maintenance, equity release or children leaving home. This totals nearly 5 million homeowners.

“Despite this, not enough is being done to cater for this burgeoning market. While the Government is focused on increasing supply for younger people, there is a chronic under-supply of purpose-built retirement housing of the type that we provide. With the UK’s rapidly ageing population, the housing stock is woefully unprepared for this demographic shift.

“The Foundation’s report also stresses the importance of retirement development in building companionship and community spirit. According to a report by Demos undertaken with our support, over a million older people always or often feel lonely, with London the loneliest place for over 55s. However, 85% of those surveyed in McCarthy & Stone’s developments say there is a good sense of community.

“We cannot go on ignoring the importance of retirement housing to the UK. It would not only tackle social isolation and loneliness, but also significantly contribute to solving the UK’s housing crisis. The Government has shown, through its Help-to-Buy scheme and other initiatives aimed at first time buyers, that it can drive market supply. So we urge Government and  all others with an interest in the wellbeing of older people to work together to help increase the housing choices for people in later life.”

The full report can be downloaded here: http://www.nhbcfoundation.org/Publications/Primary-Research/Retirement-housing-residents-experiences-NF69