Strutt & Parker is calling for the development of more retirement living complexes after a poll showed 42% of over-65s believe there is a lack of suitable properties to downsize to.
The majority (73%) of the 2,200 respondents said they have no plans in place for retirement accommodation or their care provision in later life, while 17% would consider living in a professionally managed rental product, in other words a Build to Rent model.
The agent is suggesting creating a “new breed of retirement communities” dubbed “Platinum Places” that would allow retirees to live independently but have on-site access to health and leisure facilities.
The research, compiled with Octopus Healthcare, claimed that only 2% of the UK’s stock is designated as retirement accommodation and it houses just 1% of Britons in their 60s.
The number of retirement homes being developed has also decreased dramatically from 30,000 per year in 1980s to 8,000 per year today, according to the report.
Stephanie McMahon, head of research at Strutt & Parker, said: “The Baby Boomers have voiced objections to living in the same way as their parents in retirement.
“Often in good health, with decent pensions and active lifestyles, they want to live where they can continue to enjoy their established way of life, minus the day job.
“They want access to local culture and recreational facilities such as theatres, farmers’ markets and swimming pools, but also accommodation that is flexible enough to meet their future care requirements.
“Through our research, we have identified a potential solution which we call Platinum Places.
“These are mixed-use and mixed-age, urban or edge-of-community developments in towns, cities or large amenity-rich villages.”