Elderly Being Squeezed In Retirement Homes Shortage

LONDON-Given current forecasts there is likely to be a chronic shortage of homes suitable for the elderly according to research just published by Retirement Homesearch, the specialist agency in property for retired people.

The retirement population in the UK is set to jump from 10.7 million people in 1998 to a staggering 16 million by 2040. Martin James, Sales and Marketing Director of Retirement Homesearch, said: ‘Currently, 1.15 million people live in specialist retirement property of which only 125,000 are privately owned. On the current figures we will need over 1.7 million privately owned homes to cater for the need over the next 30 to 40 years.’ With only 3,000 specialist private retirement homes being built each year there is certain to be a chronic shortfall of available accommodation.