Laura Sharman 03 June 2020

Downsizing crucial to tackling ‘skewed’ housing market, says report

Better housing options for older people in the UK could reduce the national housing target by 50,000 a year, a new report has found.

The report, published by the Centre for the Study of Financial Innovation, says that downsizing is crucial to tackling the country’s ‘skewed’ housing market.

It shows there are more than 15 million spare bedrooms in the UK, with nearly 60% of these in households inhabited by over-65s.

The report predicts surplus bedrooms will exceed 20 million in 2040, with nearly 13 million people above the age of 65 living in largely unsuitable households.

It warns that a lack of age-friendly housing in the UK is preventing millions of older people from moving to a more suitable property.

It is calling for a joined-up approach between departments dealing with housing and health for older people, and for local authorities to have a plan for retirement housing.

Professor Les Mayhew, professor of statistics at Cass Business School, said: ‘If more family homes were freed up by downsizing, the benefits would cascade down the housing ladder because it would enable families to ‘upsize’, allowing more first-time buyers on to the bottom rung.

’More efficient use of the existing stock would reduce pressure to ‘just build more’ as a solution to the UK’s housing shortage.’

The report was supported by Cass Business School and ARCO.

SIGN UP
For your free daily news bulletin
Highways jobs

HR Onboarding Officer (CDC)

City Of Doncaster Council
Grade 7, £27,259 - £29,955 (Pay award pending)
You have an opportunity to be part of a busy Human Resources team which offers HR support across the Council. Doncaster, South Yorkshire
Recuriter: City Of Doncaster Council

Purchase to Pay Administrator (Fixed Term) - WMF2122e

Westmorland and Furness Council
£25,584 - £25,992
We are looking for an Administrator to join our Purchase to Pay and Accounts Receivables team Cumbria / Various
Recuriter: Westmorland and Furness Council

Social Worker - WMF2123e

Westmorland and Furness Council
£41,511 - £42,708
We’re looking for passionate social workers to join our team in Kendal following a recent reshape of our services. Kendal, Cumbria
Recuriter: Westmorland and Furness Council

Environmental Health Officer

Wyre Borough Council
£38,626 - £41,511
We are looking to appoint a full time Environmental Health Officer within the Environmental Protection and Community Safety Department. Poulton-Le-Fylde, Lancashire
Recuriter: Wyre Borough Council

Trainee Graduate Accountant

Wyre Borough Council
£25,992 - £37,938
Are you looking to kickstart your career in Finance? Poulton-Le-Fylde, Lancashire
Recuriter: Wyre Borough Council
Linkedin Banner