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The Next London Housing Crisis: Retirement Homes by Clare Al-Aufi





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The Next London Housing Crisis: Retirement Homes by
Article Posted: 11/07/2013
Article Views: 1525
Articles Written: 6
Word Count: 534
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The Next London Housing Crisis: Retirement Homes


 
Real Estate,UK Property Investment
Amidst the current housing crisis is concern of a looming threat of additional crises that may plague the United Kingdom in the near future. Among concerns recently reported is the concern that retirement housing may be adversely impacted and become less available to the public in the coming years. During the last week of September 2013, the Campaign for Housing in Later Life launched in Westminster during a housing summit. The new campaign is aimed at urging the government to make changes to the options that are available to older individuals and the elderly when it comes to housing. The campaign spokesperson, Esther Rantzen, took time at the summit to report findings from a recent report from Demos concerning the current supply of retirement housing, and what will likely become a housing crisis for the elderly populations of the United Kingdom in just a few short years’ time.

The report indicated that more than £400bn is currently invested in the economy of homes owned by people in the United Kingdom over the age of 60 years old, and many of these individuals are beginning to seek options to downsize their living arrangements to make accommodations for other things that they want to do with their lives, or because they are no longer able to care for the larger homes they now live in. Critics of the elderly in the United Kingdom have repeatedly indicated the elderly may be to blame for the housing crisis as they continue to live in homes that should be,homes, thereby making it more difficult for young people with families to find appropriate housing. However, proponents of the Campaign for Housing in Later Life have indicated that more elderly individuals may be willing to downsize to a smaller home or move into other accommodations if they were available.

According to reports from Demos, a government plan that assists elderly individuals in moving out of homes that underoccupied and into housing more suitable for couples or elderly individuals would release more than 3.29m properties to the marketplace. The report shows that more than 2m of these homes are three-bedroom homes. There are currently, according to the report, more than 3.5 million elderly individuals living in the United Kingdom who would like to downsize their living arrangements right now, but are unable to do so because there are only roughly 150,000 available retirement properties available through the private marketplace.

Trending reports show that while there are roughly 10 million people over the age of 60 living in the United Kingdom today, more than 17 million will live in Britain by the year 2033. This is cause for great concern as there has been no move to provide a significant increase in the number of retirement properties available. Some forays into retirement housing have been made but have failed to meet the needs and demands of the ever-growing and ever-aging retirement population in the United Kingdom, and the Campaign for Housing in Later Life is working to change that. Of course being able to sell your London home fast helps a lot. If this sounds like you,Click here and read how you can do so.

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