"Both older and younger people see the benefits in providing better housing options for our ageing population"
The research, produced in conjunction with YouGov, found that older and younger generations hold similar sentiments when it comes to housing for the elderly, with 60% of younger people surveyed stating that the UK needs more “later homes” for older people and 70% of pensioners saying there should be greater focus on improving the choice of suitable housing for the elderly.
McStone also indicated that both generations wish to move along the housing ladder, with younger people wanting to access it and the older generation looking to downsize. The research shows that 35% of adults aged 65 and over would consider moving, representing 4.1 million pensioners.
However, McStone said, many of these people are part of “generation stuck” – pensioners wishing to downsize but restricted by limited options. The housebuilder added that if all those potential downsizers were to move, this would equate to more than 2 million bedrooms becoming available to the market, freeing up more than £364 billion of housing for families and younger people.
The research also shows "how linked intergenerational finances are," McStone said - 51% of under-30s say they need financial assistance from family to purchase a home.
Clive Fenton, McStone’s ceo, said: “Both older and younger people see the benefits in providing better housing options for our ageing population. We absolutely understand the government’s focus on helping young people join the housing ladder, but if they are really serious about solving the housing crisis they have to recognise that helping older people to downsize to free up under-occupied property has to be a significant part of the solution.”
