The UK has an aging population. On current projections, the number of those over the age of 65 years will move from 19% of the population now (2022), to 24% of the population in twenty years’ time. This five basis point rise leads to a total of 14.7 million people who will be past retirement age by 2042 in England alone, a rise of 3.8 million people.
Clearly many over 65s will continue to live in their tenure of choice but there may be others who want to downsize, or live somewhere with like-minded, similarly aged people, or with targeted amenities or extras where they and their specific needs are more catered for. And again, there may be others who have to leave their home, in need of health-related assistance or care or additional support (and this becomes even more prevalent in the over 75’s). This specialist housing for older people includes many variations providing varying levels of assistance, support and amenities ranging from retirement villages, independent living communities, residential care and assisted living to nursing homes (among others).
The top ten locations are found in five different regions, a slightly wider spread than build to rent and build to sell:
Although these areas have come in the top ten, strong demand for all types of later living accommodation will be felt in all areas of the country over the coming years, making this a very attractive sector for future investment.
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