As part of the Wedlake Bell LaterLiving team (by which I mean those of us with expertise in property specifically for the older generations, rather than a reference to my own age!) I often wonder why there isn't more of a rush by developers and investors to put their efforts into the housing needs of the retirement generation. Perhaps it's not as sexy as BTR and PBSA, but the underlying fundamentals of these assets can't continue to be ignored - a rapidly ageing population, a huge undersupply of appropriate stock and scientific evidence that our lives can be extended by several years if we move to the right type of accommodation earlier in our twilight years.
The loneliness and isolation that is affecting so many in the current climate may prompt greater numbers of the older generation to think again about living alone in large and potentially unsafe homes and to look instead at places with communal facilities, ongoing support and greater opportunities for social interaction. Surely this would improve the quality of life of the residents, be good news for investors and developers in the sector and would have the added benefit of freeing up the top end of the housing market benefitting buyers on every rung of the property ladder.
Arguably, for too long Britain has ignored the needs of people in later life and failed to provide enough homes for our older generation.