The Housing For An Ageing Population Report, in association with the British Property Federation (BPF) sets out key recommendations for the Older People's Housing Taskforce by the UK Government in April 2023. The Taskforce is a significant step forward for the seniors housing sector and something the BPF and its committee members have been lobbying for.
Many older people struggle to find the right size of home that suits their needs without relocating and losing touch with places they may have lived in for many years. The urgency of this issue grows each year as supply fails to keep pace with growing demand.
The four key recommendations, set out in the report are essential if we are to deliver more seniors housing, relieve pressure on an already struggling health, social care and housing system.
- There are 12.9 million people over 65 in the UK, this is expected to increase to 16.9 million by 2040;
- 24.1% of the total UK population will be over 65 in 2040;
- 87% of seniors housing stock in in the UK was built pre-2021 and only 13% built post 2010;
- At the end of 2022 there were 602,633 seniors housing units for older people in the UK;
- Greater awareness is needed to encourage our ageing population to find the right size of home;
- If the UK can deliver 50,000 senior housing units, 628,000 standard homes could be released back into the housing market;
- Just 1% of over 65s live in Integrated Retirement Communities (IRCs) in the UK.
Cushman & Wakefield and the BPF first produced a report back in 2020 which looked at defining the sector. Get a copy of that report.