The Ageing Population and the Housing Market

There are many challenges associated with house hunting for older citizens stemming from a number of sources. The fact that many older persons who are interested in moving are at least partially driven by a desire to downsize from a larger family home, into something more manageable is a hurdle in itself. But when the price restrictions are combined with other specific needs such as limited mobility access, and the desire to have some extra space, either for visitors or a live-in carer, the hunt can seem almost impossible.

Why Estate Agents Should Not Ignore the Older Demographic

Some feel that there is a certain amount of stigma that comes with listing homes that come with mobility or age-related features such as a lift, ramps, rooms that could be used to house a live-in caregiver, or widened hallways suitable for wheelchair access. Estate Agents or Agencies often do not list properties in such a way that it highlights such features, in the fear that it might drive away some buyers for whom those features would be a nuisance rather than a benefit. While this may have some validity to it, it is also true that the ageing demographic is rising. There are currently around 8.4 million adults in the UK who are registered as being disabled in some way. This is a large market segment that is expected only to grow in the coming years. But because of bias against listing properties in such a ways as to make them easy to find, large portions of that group are either purchasing properties they are somewhat dissatisfied with, or are not buying at all.

Catering to the Market

Although it can be difficult as an agent to find housing that caters to the requirements of the ageing generation, the numbers suggest that it could be well worth their while.  Recent polling suggests that around 53% of people over 50 plan to move when they retire and many of these people are likely to eventually need mobility features or dedicated space for live-in assistance. It seems likely that in addition to cost, location, and size, homes that either already have mobility access features built in, or that could be easily and inexpensively adapted, will be a huge commodity in the coming decades. With these points in mind, it seems that the real estate agents are likely to profit from attending to the specific needs of the UK’s ageing population.

 

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website.

You May Also Enjoy

Home and Living

Top 4 Indications That Your Two Story Home is in Need of Pest Control

Have you noticed tiny pests crawling around your home? Pests are more than just a nuisance. They can cause damage and spread diseases. If you live in a two story home, it can be even harder to spot the signs of an infestation. Knowing what to look for is the key. In this guide, we…
Read More
Estate Agent Talk

Matching Your Needs: Choosing The Ideal Residential Property Management Services

Owning residential properties can be an excellent investment, but managing them can quickly become hard. From handling tenant issues to maintenance and rent collection, it’s a time-consuming task. Fortunately, there is a solution—property management services. They can handle these tasks for you, freeing you to focus on other priorities. However, with so many options available,…
Read More
Breaking News

Third of Private Renters Are Struggling to Afford Their Rents Says New Research

Over a third of all private renters are finding it difficult to afford their rent according to new research out today. Whilst overall 35 per cent of renters said they were finding it difficult or very difficult to afford their rent, this proportion increased to 56 per cent for those not in work due to…
Read More
Home and Living

Why Select High-Quality Shower Drains for Stunning Wet Room Design

A wet room is a fully waterproofed bathroom with an open shower area, where the floors and walls are designed to handle water exposure. One of the most important aspects to consider when designing a wet room is your shower drain. With a great range of available designs, homeowners and those in the construction industry…
Read More
Breaking News

Bank of England’s decision to hold the Base Rate – Industry Reaction

The Bank of England held interest rates at 5.25% for the seventh time in a row. The decision comes despite official figures yesterday which revealed inflation had fallen to the Bank’s target of 2% for the first time in nearly three years. Here are some thoughts from the property industry.   Rightmove’s mortgage expert Matt…
Read More
Breaking News

Breaking Property News – 20/06/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   OpenBrix, Home, & TDS unite to digitally upgrade the tenant user experience Full disclosure Adam Pigott and the team at Openbrix are one of my original and long serving clients in my day job of getting proptechs from MVP to exit (Proptech-PR). But as…
Read More