GreenSquare has welcomed the latest research from the National Housing Federation (NHF), highlighting the requirement for more homes in the UK for older people that offer flexible care and support services.
Research from the NHF has revealed more than a quarter (28%) of people aged over 55 have already, or think that they may, sell their home and downsize in order to pay for potential care costs later in life. A further 13% have, or think that they may, release equity from their home. However, the NHF warns that with a polarised housing market and unprecedented levels of inequality in income and wealth, homeowners with lower value homes could find worrying holes in their finances.
In response to the findings, the NHF is calling for more affordable homes designed for older people with integrated care services to be built across the country.
Howard Toplis, GreenSquare’s Chief Executive, said: “This latest research backs up what we have known for a long time – we need to face up to the needs of an ageing population, so building more homes that have been specifically designed to meet the needs of older people has never been more essential.
“To help address this shortage, we are already building two dedicated ‘extra care’ schemes in West Oxfordshire, an area of the country that has a huge demand for this type of housing.
“Across two sites in Witney and Milton-under-Wychwood, we’re building 124 mixed tenure luxurious one and two-bedroom apartments in total, which all have support services available and tailored to suit individual needs. These homes are designed for older people, who need a little extra help to continue to live independently and we have already had a huge amount of interest from people who’re keen to move in.
“We’re also supporting the Homes for Britain campaign and calling on all political parties to commit to end the housing crisis and help us build more of the types of homes that people need, which includes more ‘care-ready’ properties like the ones at Fernleigh and The Wychwoods.”
David Orr, chief executive of the National Housing Federation, added: “The housing crisis affects everyone and rather than being able to enjoy their retirement, many older people have to choose between setting aside money for possible care costs or helping their children on to the housing ladder.”
At Fernlegh in Witney, GreenSquare is building 80 one and two-bedroom apartments – 10 for shared ownership, 38 for sale, and 32 for rent. . At The Paddocks, in Milton-under-Wychwood, GreenSquare is building 44 new homes comprising one and two-bedroom apartments – 11 for shared ownership and 33 for rent. To find out more, visit www.greensquarehomes.com/ec
All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 1,459 homeowners aged 55+. Fieldwork was undertaken between 16th-18th December 2014. The survey was carried out online. The figures have been weighted and are representative of all GB adults aged 55+.