Is Downsizing A Solution To The UK’s Housing Shortage?

Is Downsizing A Solution To The UK’s Housing Shortage?

Despite the thousands of new build houses popping up like summer flowers all across the UK, the country is still facing a housing shortage. Or, to put it more accurately, the UK has a shortage of appropriately priced housing for certain demographic groups. Have you seen this report claiming that millions of older people are unable to find suitable housing alternatives when they wish to move?

A common criticism of the UK’s current housing strategy is that the houses being built do not address the need for people to have access to affordable homes – and many of the new build housing estates contain a disproportionate number of large detached 4-to-5-bedroom houses, at the expense of ‘average’ family homes.

This isn’t really the fault of the developers – they have to plan their developments within a Local Authority planning framework the best way they can, and timescales and margins are often tight.

Empty nesters and young families

However, the fact remains that young working couples and families frequently struggle to buy an affordable 1–2-bedroom house, often having to rent a home until deep into their 30s, or relocate to another cheaper part of the country, away from family and friends.

At the other end of the equation are older adults whose adult children have left home, but who still live in large family properties. These relatively affluent ‘Boomer’ generation private homeowners often come under fire on social media and radio talk shows for their ‘selfishness’ in refusing to downsize, and there’s even been talk of compulsory purchases of large family homes occupied by only one or two people, as well as expanding the bedroom tax to private homeowners.

Such a draconian approach to property redistribution is unlikely to become policy in this country, thank goodness – but is it fair to lay the blame for the shortage of family properties on the shoulders of the baby boomer generation?

Shortage of bungalows and smaller properties

In most cases, no. Many ‘empty nesters’ actively want to downsize their properties to release equity for their retirement but are prohibited from doing so due to the cost of equity release from Stamp Duty, legal fees, and estate agent fees, and also the scarcity of bungalows and smaller properties.

Many of the UK’s bungalow stock were built in the 1960s and 1970s and are now in a poor condition, making them an unattractive prospect for older property owners looking for a new home. They are also expensive compared to other property types, as well as increasingly rare. Residential property developers and planners aren’t building many new bungalows, and many existing bungalows are being purchased by private developers simply for their plots, after which the building is pulled down to erect high-density new housing.

Are retirement homes a viable alternative? For most people, this isn’t a desirable option either. Having worked hard all their lives, healthy and active people in their 50s to 70s aren’t yet ready to downsize to residential care, and are looking for a suitable property where children and grandchildren can visit – i.e. with fewer bedrooms but a larger living space for entertaining friends and family.

So, what are planners and developers doing to address this?

Mixed housing communities

Mixed housing communities are residential developments that provide affordable housing to individuals and families with different income levels. These developments typically contain a mix of subsidised, Housing Association, rental, shared ownership, and market-rate housing, allowing for a diverse range of social groups to live together in one neighbourhood. Many developers are also now including larger two-bed private ownership houses in their portfolios to attract retired adults looking to downsize.

Mixed housing communities often feature innovative design features such as pedestrian-friendly layouts, ample outdoor space, and ‘green’ buildings. This helps create an environment that is more conducive to healthy living and community engagement.

Integrated retirement communities

Integrated retirement communities (IRC) are housing developments designed to meet the needs of older but still healthy property owners, providing a range of facilities and services on-site that allow residents to live independently while still having access to support when needed. IRCs typically consist of a core building with connected communal areas, such as restaurants, bars, gyms, cinemas, community halls and gardens, providing optional activities and social opportunities for residents.

In addition to the core building, IRCs often include purpose-built age-restricted apartments or bungalows that provide independent living with tailored care packages available if required. This allows residents to comfortably age in place without having to move into more specialist care accommodation in later life.

High-quality homes for individuals, couples, and families

Whether you are a first-time buyer, have a family home, are downsizing or renting, it is important that the build quality of your new home is excellent.

This is why SC4 Carpenters Ltd understand and meet standards such as NHBC Best Practice and the requirements of Local Government Building Control when carrying out carpentry and decorating works, ensuring that the new homes our clients are building are homes you are happy and excited to live in.

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