Half of UK pensioners looking to down size

There are multiple reasons why moving habits are changing over the years. Though many still buy in to the bricks and mortar of a traditional family home, the needs of people are changing, especially as the retirement years are extending. While some people need special facilities, the family home may not provide an accessible environment. Whether a property is too far away from required amenities or there are too many stairs for those with limited mobility, many older adults are looking for a property that fits their current needs. 

A recent survey conducted for McCarthy & Stone’s annual Retirement Confidence Index (RCI) found that as many as 38% of adults over the age of 65 would be interested in downsizing. This increases to 48% if a relief in stamp duty was offered and an incentive. 

Though this may cure the housing shortage that the UK has suffered under for many years, with a lack of starter and second homes, others fear it may bring alternative difficulties. Experts are concerned by the lack of suitable accommodation for last time movers. This is set to be an increasing problem as those over 65 are set to double, numbering up to 11.1 million by 2036.

Clive Fenton, McCarthy & Stone’s Chief Executive has said: “"With more than 11 million people considering moving to a more suitable property by 2036, the Government needs to put specialist retirement housing and other forms of accommodation for older people higher up the agenda or we will simply lack the necessary infrastructure and support services, particularly from a health and social care perspective, to deal with such a huge demographic shift."

Many are looking to improve the facilities in their current home. By preparing for mobility problems they are extending the period they can remain independent by installing a walk in baths and showers along with wider door frames and an alternative to stairs it is a great way to improve the accessibility in the home.