"A more affordable option than purchasing a retirement apartment is renting on an assured tenancy."
West Sussex topped the Prudential Quality of Retirement Index, which reviewed nine indicators of ‘happiness and comfort’ for people in retirement in England and Wales. Dorset came second followed by East Sussex in third place.
Prudential used data to rank places including disability-free life expectancy, access to healthcare, crime levels, pension income, weather and happiness.
However, these locations are also some of the most expensive places to live in the UK, which can price out retirees looking to downsize and move, according to Gillian Girling, chief executive of Girlings Retirement Rentals.
Gillian said: “The South Coast has an enduring appeal for retired people with beautiful countryside and coastal scenery, good weather and vibrant towns and cities. However, the popularity of the area is reflected in the higher than average property prices, which can be a barrier for people looking to relocate.
"A more affordable option than purchasing a retirement apartment is renting on an assured tenancy. Assured tenancy renting really suits retired people as it offers long term security as people can choose to stay as long as they want. There are other benefits too – people no longer need to worry about any property maintenance or service charges.”
One couple who decided to downsize and rent in the popular coastal resort of Bournemouth in Dorset are Keith and Teresa Davy, both in their 70s. The Davys decided to sell their previous property and rent to free up money to fulfil their travel ambitions. They also realised that renting was more affordable so it would enable them to move to their dream retirement location of Bournemouth.
Keith said: “We couldn’t afford to buy the flat we’re living in, so renting has enabled us to live in an area we really like. We love the location, it’s in a lovely area in Bournemouth near the shops and we can walk to the beach and into the town centre. The bus service is so frequent and convenient it’s like a taxi service. We also like the security of having an assured tenancy agreement."
