analysis predicts that increasing institutional investment into the sector will
give rise to a growth in a number of specialist seniors housing units in the UK
including ‘retirement housing’, age-restricted market housing designed with the
downsizer in mind, and ‘housing with care,’ which provides services, care and
support as part of their proposition.
Over the next five years, Knight Frank forecasts a 48% growth in
housing with care – increasing the total number of units to around 45,000.
Retirement housing is expected to rise by 5% over the same period, equating to
around 29,000 units.
“There are a number of clear trends emerging in the senior
living space, driven primarily by demand from residents. Schemes in urban
locations – such as Audley’s new Nightingale Place in Clapham – are becoming
increasingly popular as more people seek a lifestyle-led offerings,” said Tom
Scaife, head of senior living at Knight Frank. “Developments of mixed tenure
are also becoming more widespread, as people discover the flexibility that
comes from renting instead of buying in their later years.”
Lauren Harwood, head of senior living research at Knight Frank,
added: “Currently, the forecast suggests that the projected delivery of seniors
housing seems will not keep pace with our growing ageing population. A step
change in new delivery is required if the UK is to reverse the huge imbalance
between need and supply, which is only set to increase as people continue to
live longer and more of the population enters the 65+ age bracket.”
In May, separate research by the property consultancy predicted
that 6,500 care homes, which total 140,000 beds, are at risk of closure over the next five years.