Housing the elderly - back on political agenda
Today Grant Shapps has talked about making it easier for the elderly to downsize, Pegasus Retirement Properties’ Chairman (and former Chairman of the HBF’s Retired Housing Group), Peter Askew, has been saying this for a while.
SHORTFALL IN RETIREMENT PROPERTY REACHING CRISIS POINT
- 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.
- Source: AGE UK
Where will they all live?
Older people who want to downsize are being ignored by developers and planners and, according to Pegasus Retirement Properties, a major crisis is looming because soon there will not be enough retirement properties for the over 65’s to live in. As care for the elderly once again hits the headlines, the wider question of homes and care could be addressed more cohesively for a better solution for the over 65’s.
The debate and policies being proposed on how to handle the country’s growing ageing population must, in Pegasus’ view, take into account the housing stock available for older people and the need for more retirement properties is now urgent.
Government figures state: “The latest projections are for 5½ million more elderly people in 20 years time and the number will have nearly doubled to around 19 million by 2050 and the fastest growing age group is the centenarians (people over 100 years old).”*
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.”
Sources:
www.ageuk.org.uk Later Life in the United Kingdom
www.parliament.uk The ageing population
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Please contact: Joanna Lennon at TC Communications on 01344 622280 or joannal@tc-comms.co.uk
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Notes for editors:
Pegasus Retirement Homes has 22 years of experience of building apartments for the active retired. Pegasus seeks to promote independence, security and a comfortable life in retirement. They currently have 19 developments with apartments for sale located in the Midlands, the South, South West, London and Wales. All the apartments are owner occupied. Please see the website www.pegasus-homes.co.uk for details on specific developments or for further corporate information.
Pegasus has retirement property for sale throughout The Midlands, South, South East and West England and in Wales.
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