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Housing markets and independence in old age: expanding the opportunities
- Authors:
- BALL Michael, et al
- Publisher:
- University of Reading. Henley Business School
- Publication year:
- 2011
- Pagination:
- 45p.
- Place of publication:
- Reading
This report presents findings from research on housing for older people who live in specialist private retirement accommodation, called owner occupied retirement housing (OORH). This type of housing is purchased, on a leasehold basis, and found in specially designed blocks of apartments which have communal facilities, house managers and other networks of support integrated within them. There are currently around 105,000 OORH houses in the UK, about 2% of the total number of homes for those aged 65 and over. Findings revealed a higher quality of life for residents and their families. The report notes that 92% of OORH residents are very happy or contented and the great majority would recommend the accommodation to others. OORH was environmentally better than traditional housing, with reduced energy use, including less travel. The report states that 51% of OORH residents said that their energy bills were noticeably less. Also, most OORH residents have family and friends in the locality. Older people form an important part of the core of most communities. This report suggests that far more elderly people could benefit from this type of accommodation than live in it now. However, due to restrictive planning and housing policies, many older people are not being provided with the opportunity to purchase OORH.
Housing market and independence in old age: expanding the opportunities
- Authors:
- BALL Michael, et al
- Publisher:
- University of Reading. Henley Business School
- Publication year:
- 2011
- Pagination:
- 45p.
- Place of publication:
- Reading
The findings of research on housing for older people who live in specialist private retirement accommodation, called owner occupied retirement housing, are outlined in this report. There are currently around 105,000 owner occupied retirement housing dwellings in the UK, generally specially designed blocks of apartments with communal facilities, house managers and other networks of support, and purchased on a leasehold basis. The report notes that people living in this type of accommodation express very high levels of satisfaction with the lifestyle, but that the amount of housing of this type is relatively small (comprising approximately 2% of the total number of homes for those aged 65 and over). It highlights the benefits of specialised private retirement accommodation and recommends a number of policy changes to help increase its supply and address the challenges of housing an ageing population. It discusses why this type of housing matters, why the supply of owner occupied retirement housing needs to increase and its benefits, how public policy factors have contributed to restraining the supply of owner occupied retirement housing and how public policy can help to increase the supply of such housing in the future.