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Berkshire’s beloved market town, Wokingham, has topped a list of under-served areas in the latest issue of RHS Quarterly.
With the nation’s unfailing faith in bracing sea air and, conversely, the cost of land near major conurbations, some areas in the UK are now brimming over with retirement housing, while the country as a whole faces a desperate shortfall.
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Retirement Homesearch has produced a brief guide to planning for your needs in old age.
This follows evidence in their 2017 survey suggesting that we are still underestimating the need for care and support in our autumn years.
In the survey of 1,000 UK over-50s, ‘younger’ respondents (i.e. aged 50 to 59) consistently rated availability of care and medical services as a lower priority in choosing their retirement housing than older respondents.
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A survey conducted by YouGov on behalf of Retirement Homesearch shows that 19% of UK over-50s believe it is ‘likely’ that they will spend their autumn years in a purpose-built retirement community.
Yet such housing comprises just 2% of existing housing stock – meaning that a vast demand remains unfulfilled.
1,000 over-50s were asked first whether they were likely to move into a specialist retirement community, and then what factors were most important to them in deciding where to live in retirement.
If the results are taken as representative of the UK over-50s population, it would mean 4.5 million people competing for around 500,000 retirement homes.
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Leading specialist retirement estate agency, Retirement Homesearch (RHS) predicts that changes to pensioners’ financial outlook may impact the number of new buyers entering the market.
Highlighting changes such as the future planned increase in the state pension age and the review of the “triple lock”, RHS say these factors may give a boost to the market as people will have to consider downsizing to free up assets.
Retirement Homesearch’s Quarter 2, 2017 review highlights the importance of ‘proceedable’ buyers in the retirement market as a ‘critical factor’ that could be impacted by the changing financial landscape for tomorrow’s pensioners.
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The UK’s leading retirement property specialist releases its latest quarterly review of the UK market and beyond.
The review highlights retirement property enquiries on the up, with a 17% increase in new registrations for the first quarter of 2017 compared to the same period last year, showing a resilient ‘bounce’ after a quiet final quarter of 2016.
However, as we all eagerly wait to see what happens here in the UK- particularly with the snap election now on the table for June - and we know that the property market doesn’t like uncertainty - this quarter’s edition looks at retirement living in other parts of the world. An aging demographic is common in many countries but the approaches to retirement are not. Maybe we, in the UK, can take some ideas from neighbours near and far.