The Affordability of Retirement Housing
This paper presents the conclusions and recommendations from the inquiry of the All Party Parliamentary Group on Housing and Care for Older People into the affordability of retirement housing.
Politicians and policy makers across the political spectrum are concerned with the plight of first time buyers getting onto the housing ladder, as house prices continue to climb. Much less attention is focused on those at the other end of the ladder — older people living in family homes. But many of these households occupy homes which are too large, difficult to maintain, and expensive to run. Some would be keen to move, if appropriate housing were available and at the price they could afford.
The APPG is concerned with whether such older people can afford to move to appropriate housing, and if not, how they can be helped to afford to move. This could help ease the pressure on the entire housing market: if older people were able to downsize, or rather ‘right size’ to appropriate housing, many large family homes would be made available for growing families to move into, which in turn would free up smaller properties for first time buyers.
Demos acted as the secretariat for the inquiry.