Retirement community homes are in high demand across Britain, but the supply is limited. Only 3.7% of the total market stock is retirement homes, and 32.4% of them are already sold or under offer.

The Situation

Many older people in Britain are looking to move into retirement homes. These special communities allow them to live independently, but also have others of a similar age and help nearby if needed. They’re becoming a popular option because they’re social, convenient, and can make financial sense when downsizing from a larger family home.

The Problem

The demand for these retirement community homes is high, but there aren’t enough of them for sale. This is creating a strong competition to secure one, making it harder for people to find the right home for their retirement.

The Numbers

• Total Properties For Sale in Britain: 672,375
• Retirement Community Homes: 24,912 (3.7% of total properties)
• Retirement Homes Already Sold or Under Offer: 8,080 (32.4% of retirement homes)
• Highest Demand: Scotland (51% of retirement listings already sold or under offer)
• Lowest Demand: North East (24.6%)

Regional Differences

Different regions have different levels of demand and supply:

• Scotland: High demand, but very low stock (1.9% of total homes listed)
• North West & Wales: Above average demand but low levels of retirement community stock
• South East: Low demand but the healthiest level of stock (6.2% of all current listings)

The Expert’s View

The Managing Director of House Buyer Bureau, Chris Hodgkinson, emphasizes that people are living longer and healthier lives. Retirement communities are becoming increasingly popular to maintain social connections and independence. However, the limited stock means that those looking to move into such a community should consider acting sooner rather than later to maximize their chances of securing a suitable retirement property.

Conclusion

Retirement community homes are in high demand in Britain, and in many areas, the demand is outpacing the available properties. This trend reflects a broader desire among older people to live in a more social and supportive environment as they age. But, the limited stock could create an opportunity for investors and developers.