August 2018
Featured in this insight: Construction, Financial services
Survey finds the majority of older people want single storey properties: A survey has shown that over half of people aged 65 and over would consider moving to a bungalow, but the lack of properties available in the UK means that they are not a viable housing option for many.
The poll by retirement builder McCarthy and Stone found 54% (in the 65+ bracket) would consider moving to a single-story space in their retirement – that is equal to 6.6 million people. And almost two thirds (65%) believe that developers should build bungalow style homes specifically for older people.
Supply and demand
The problem is that of all the housing types currently built by developers – bungalows are not high on the list. Thirty-two years ago, in 1986, the number of bungalows being built was 26,000 – a figure that has plummeted to just 2,6000 in 2017.
As well as not building enough new bungalows, developers often buy bungalows so they can build more profitable double or multi-storey dwellings on the land they occupy.
Despite plans to build a series of bungalows across the UK, McCarthy & Stone is calling for local housing plans to contain more ‘bungalow-only’ sites and for legislation to help provide people with a range of different retirement options.
Chief executive of McCarthy & Stone, Clive Fenton, said: “There is an urgent need to build more suitable housing to meet the different needs of those in retirement, and bungalows must play a key role. Although they were a dying breed, bungalows are making a comeback and are hot property.”
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