- The number of people aged over 65 years will increase by 65% in the next 25 years*.
- The number over 85’s will double in the next 20 years and triple in the next 30 years*.
- There are now 14 million people in the UK aged over 60*.
- Over one third of total UK population is over 50 years of age*.
Where will they all live?
Those older people who wish to downsize are effectively being ignored by both planners and developers, and due to this a major crisis is looming as soon there won’t be enough retirement properties for the over 65′s to move into. This is according to Pegasus Retirement Properties.
Care for the elderly is once again hitting the headlines, and the debate and policies that are being proposed on how the country is going to house the ageing population must, in the view of Pegasus, take into account the housing stock currently available for older residents and realise that the need for more retirement properties is now in a state of urgency.
The latest Government figures have state that their latest projection is that in 20 years time there will be over 5.5m more elderly people than there are now, and that number will have almost doubled by 2050 to around 19m. It also said that the age group with the fastest growth was those over 100, or centenarians.
Peter Askew, Pegasus Chief Executive, explains: “The number of over 60’s who will be active and independent well into their 80’s will continue to increase if they can live the right lifestyle – and that is where specialist retirement and assisted living are so important. Because Pegasus owners are able to lead an active, independent lifestyle and their homes are readily adapted for disability, less than 4% of them end their days in a care home. The bill for assisted living is much less than the bill for care – whether it is paid by the State or a family. In addition, the lifestyle requirements of the older generations are changing all the time, yet we have insufficient provision in place.”
He warns: “The number of available specialist retirement developments has shrunk whilst the number of retired people living longer grows. In 2009, only 589 new retirement units were registered and by the end of September 2011 the figure had risen to 1602 new units (apartments and houses). However, this is a drop in the ocean because, as each property is bought and lived in, there are not enough new retirement properties being built to re-stock supplies.
“We do not have enough property in Britain to meet the needs of people already over 60 and the situation for those who now aged 40-50 is bleak. At the current rate of construction, it is probable that we will run out of specialist retirement property.”
Peter also makes the point: “Estate agents are screaming that they do not have enough family property for their registered buyers so it makes perfect sense to give older people living in a family house as many choices as possible to free up these properties. Pegasus has over a quarter of a century of experience of retirement property and we have found that 99% of our buyers who have downsized from a family home where they only used the sitting room, kitchen and a bedroom are very happy once they have moved into one of our apartments because their overheads and worries are almost entirely removed. And, of course, a young family can buy their family house that they have sold on.”
Pegasus has developments in London, The South, South East, South West, Midlands and Wales. Please see www.pegasus-homes.co.uk. Prices start from £129,950.
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