Getting to grips with the elderly housing crisis

It’s official, the older age group (65 and over) is the fastest growing demographic in the UK, with a 19 per cent increase predicted over the next decade. In that time, London’s population of over 65s will increase by 48 per cent and other cities and towns will see similar growth. But are we equipped to provide the right number and type of homes needed by future retirees? 

We are all familiar with the ‘housing crisis’ and have our own individual experiences of it. Current Government initiatives such as ‘Help to Buy’ focus on housing provision for younger people and families. However, at the other end of the spectrum only a handful of organisations are looking at how to house our ageing population and a large gap is opening between supply and demand. We’re helping younger people to get on the housing ladder while losing sight of the bigger picture, the ‘top rungs of the ladder’ and the needs of older people. 

Putting this into perspective, the most recent later living data predicts a likely shortfall of some 400,000 specialist housing units (extra care supported housing) and 200,000 care home bed spaces across England by 2035 if current supply trends continue. Furthermore, the Housing for Older People Select Committee found that there is a widespread shortage of privately developed specialist housing (encompassing right sizer ‘lifestyle’ accommodation) for the over 55s through to extra care and virtually nothing in this market for rent. Predominantly catering for luxury later living, it has found that supply for the middle market is near non-existent.