Retirement homes on the rise

The number of homes being built in the UK for the elderly is on the rise, according to new figures.

Data from the NHBC shows that builders have registered a total of 2,337 properties specifically designed for the elderly in the first six months of 2015 – outstripping the total 1,919 which were registered for the whole of 2014.

The growth in retirement homes comes as NHBC reported that more than 41,000 new homes were registered in the UK during the last three months – an increase of 12 per cent on the same period last year.

In total, 41,268 new homes were registered, compared to 36,986 registered during Q2 last year.

The figures show that northern regions are helping to power growth in the new housing sector with the North West & Merseyside reporting a massive 74 per cent increase in new homes registered in the rolling quarter from April to June 2015 – up from 2,243 last year to 3,911.

While London and the South East continue to drive new housing growth in terms of volume of homes registered, there was a slight two per cent drop in the numbers of new homes registered in the capital over the rolling quarter. The South East saw a drop of 16 per cent.

While the UK is facing a chronic supply shortage, though, many reports in the past year have highlighted the need for property dedicated to the elderly population, as people live longer and occupy homes too big for them – holding back vital stock from those further down the property ladder.

NHBC Chief Executive Mike Quinton comments: “Our figures show that 2015 is shaping up to be an encouraging year for new housing growth with new housing registrations up 12 per cent on the second quarter of last year. However, we have made clear that while all signs of growth are to be welcomed, the UK is still building way below the volumes of homes that we need. There is a long way to go before our housing crisis is over.”