Henley Professor launches report on Housing markets and independence in old age at the House of Commons
Henley Business School's Professor Michael Ball yesterday presented the result of an independent piece of research " Housing markets and independence in old age: expanding the opportunities", published by the University of Reading. The report highlights that there are only 100,000 specialist private retirement homes in the UK. Yet by 2033, there will be an extra 3.5 million households aged over 65 years, a 60% increase on today. Without suitable and affordable accommodation, these demographic changes could result in significant housing problems for the elderly.
Professor Ball said: "Britain's population is ageing, but its housing options are shrinking. Many older people wish to downsize because their garden or home become too difficult to maintain, or because of the loss of a loved one. But the limited supply of the right type of retirement accommodation means there are few alternatives, and what is available can be expensive because supply and land costs are so high.
"Without the right policies in place, these problems will only grow as our population ages. The solution is simple: changes to public policy will allow private market developers to increase supply without any contribution from the public purse. It's vital that we get these housing policies in place now"