UK’s demand retirement homes slows

UK’s demand retirement homes slows
05/08/2016 , by , in INTERNATIONAL

The uptake of retirement housing in the UK softened in the second quarter of this year as many downsizers had paused plans ahead of the European Union referendum vote, according to the data from retirement property specialist Retirement Homesearch.

Overall new buyer registrations for retirement properties slipped by over 20 per cent from the first quarter to 4,744, a 30 per cent fall on the same period last year, as uncertainty before the referendum slowed the market. ‘With six million older Britons now living in houses with two or more excess bedrooms, downsizing could help retirees free up capital, reduce the cost of running large properties and move to homes better suited to their needs,’ said Nick Freeth, Managing Director, Retirement Homesearch.

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