WHAT ARE THE BENEFITS OF HOMES FOR LATER LIVING PROPERTIES?

Benefits for older people, their family and friends.

- Older people can live independently and know that social company and practical help is on-hand.
- They typically enjoy a higher quality of life, a higher sense of purpose and lower levels of loneliness.
- Dwellings are designed around the needs of older people, with reduced risk of slips, trips and falls, cleverly designed circulation spaces, well-designed appliances and storage, and landscaped gardens.
- As a result, a person aged 80 living in retirement housing feels as good as someone aged 10 years younger in the general population. Much of this improvement comes through improved levels of life satisfaction and well-being, and reduced levels of anxiety.
- Properties are low-maintenance and energy-efficient.

Benefits for older people, their family and friends.

- Older people can live independently and know that social company and practical help is on-hand.
- They typically enjoy a higher quality of life, a higher sense of purpose and lower levels of loneliness.
- Dwellings are designed around the needs of older people, with reduced risk of slips, trips and falls, cleverly designed circulation spaces, well-designed appliances and storage, and landscaped gardens.
- As a result, a person aged 80 living in retirement housing feels as good as someone aged 10 years younger in the general population. Much of this improvement comes through improved levels of life satisfaction and well-being, and reduced levels of anxiety.
- Properties are low-maintenance and energy-efficient.

BENEFITS FOR COMMUNITIES

- Improved quality of life means lower public health and social care costs. This saves the state around c. £3,500 per person per year, for instance from fewer falls, reduced loneliness and dementia, quicker detection of strokes, and lower use of care services.
- Retirement properties create more local economic value and more local jobs than any other type of residential development.
- They keep high streets going as people living in each retirement development generate £550,000 of spending per year, £347,000 of which is spent on the local high street. Some £225,000 of this is new spending in the local authority, directly contributing to keeping local shops open.
- From these figures, we estimate that a typical retirement housing development has the potential to support more than three local retail jobs, keeping shops open.
- For just one retirement development, a local authority could expect to see benefits of 85 construction jobs for the duration of the build, as well as six permanent jobs and £13m in Gross Value Added over the lifetime of the development, as opposed to not developing a site.

- Improved quality of life means lower public health and social care costs. This saves the state around c. £3,500 per person per year, for instance from fewer falls, reduced loneliness and dementia, quicker detection of strokes, and lower use of care services.
- Retirement properties create more local economic value and more local jobs than any other type of residential development.
- They keep high streets going as people living in each retirement development generate £550,000 of spending per year, £347,000 of which is spent on the local high street. Some £225,000 of this is new spending in the local authority, directly contributing to keeping local shops open.
- From these figures, we estimate that a typical retirement housing development has the potential to support more than three local retail jobs, keeping shops open.
- For just one retirement development, a local authority could expect to see benefits of 85 construction jobs for the duration of the build, as well as six permanent jobs and £13m in Gross Value Added over the lifetime of the development, as opposed to not developing a site.

- 3m older people in the UK aged 65+ want to downsize.
- If, overtime, all of those aged 65+ who want to move were able to do so, it would free up nearly two million spare bedrooms, predominantly in three bedroom homes with gardens, ideally suited for young families with children.
- The chain impact would be a major boost for first time buyers, with roughly two in every three retirement properties built releasing a home suitable for a first-time buyer in the housing chains created.
- Overall, every Homes for Later Living property sold generates two moves further down the housing chain, and in certain circumstances this may be more. If 30,000 later living properties were built per year (10% of the Government’s overall housing target) this would mean at least 60,000 or more additional house moves are facilitated each year.

- c.3m older people in the UK aged 65+ want to downsize.
- If, overtime, all of those aged 65+ who want to move were able to do so, it would free up nearly two million spare bedrooms, predominantly in three bedroom homes with gardens, ideally suited for young families with children.
- The chain impact would be a major boost for first time buyers, with roughly two in every three retirement properties built releasing a home suitable for a first-time buyer in the housing chains created.
- Overall, every Homes for Later Living property sold generates two moves further down the housing chain, and in certain circumstances this may be more. If 30,000 later living properties were built per year (10% of the Government’s overall housing target) this would mean at least 60,000 or more additional house moves are facilitated each year.