This growing migration has seen more and more retirees living in more isolated areas and increasing pressure on the smaller housing markets, making it near impossible for young families to own a home. Social Market Foundation (SMF) reports that specialised retirement housing in towns and cities may be needed to stop the resignation of pensioners from these areas.
It is estimated that by 2043, several coastal and rural local authorities will oversee a population made up mostly of retirees.
SMF reported that West Somerset is forecast to have 59 percent of its households being over the age of 65 in 20 years’ time.
This increases housing pressure in these areas and offsets the balance of those paying NI contributions and taxes against a bigger majority of those receiving state pension or benefits.
Development Director of Kajima, Kirk Taylor, explained the debacle: “The number of people over 65 is expected to rise by 7.5 to 8.5 million during the next 30 years. Yet many live in homes that are too large for them.
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“More than three million family homes are deemed to be…
