McCarthy & Stone’s latest research reveals that older and younger generations have similar opinions regarding homes for the ageing population. 60% of younger people surveyed suggested that the UK should build more homes for later in life, while 70% of pensioners said there should be a greater focus on improving housing for the elderly.
Both generations also stated that they wish to move along the housing ladder, with elderly people looking to downsize, while younger people wish to access it or access larger family homes. Over 4.1 million pensioners (35% of adults aged 65 and over) would consider moving if the right housing was available.
However, the elderly generation are often termed ‘generation stuck’ as they wish to downsize but have limited choices offered by the market. If elderly people were able to access suitable accommodation and move out of their large homes, McCarthy & Stone suggest that more than 2 million bedrooms could become available to the market. This could free up more than £364 billion of housing for young people and families.
Clive Fenton, CEO of McCarthy & Stone said, ‘Both older and younger people see the benefits in providing better housing options for our ageing population.’
‘We absolutely understand the government’s focus on helping young people join the housing ladder, but if they are really serious about solving the housing crisis they have to recognise that helping older people to downsize to free up under-occupied property has to be a significant part of the solution.’