Older homeowners abandon moving plans as bungalow shortage bites

More than a million older homeowners have abandoned plans to move in the past two years, according to new research by the HomeOwners Alliance, highlighting a growing crisis in later-life housing.

The study shows that 1.2 million homeowners aged 55 and over – equivalent to one in seven in this age group – had considered moving but decided against it. The most common reasons were the stress and upheaval of moving, a lack of suitable homes, and reluctance to leave friends and neighbours behind.

OLDER HOMEOWNERS BLOCKED FROM DOWNSIZING

The survey found that 41% of older homeowners cited the stress of moving as a barrier, compared with 35% of all homeowners. A shortage of suitable properties was a concern for 34% of over-55s, against 27% overall, while 23% said they did not want to move away from their community, compared with 16% across all homeowners.

Although high house prices and moving costs were mentioned as barriers, these were less of a factor for older homeowners than for younger ones.

BUNGALOWS IN DECLINE

The biggest issue identified is the scarcity of single-storey homes. Some 38% of over-55s said they would prefer a bungalow for their next move, making it the most popular option among this age group. Yet supply has dwindled: figures from the NHBC show bungalows accounted for 11% of new homes in 1990 but just 1% last year.

Paula Higgins, chief executive of the HomeOwners Alliance, said: “Our research shows that too many older homeowners feel stuck in homes that no longer work for them but struggle to find an appropriate alternative.

“There is a huge demand for bungalows but hardly any get built anymore. With the UK’s rapidly aging population, we hope the government’s long-promised housing strategy looks at a better range of retirement housing, including single-storey solutions.”

CALLS FOR CHANGE

Higgins added that the difficulties of buying and selling in today’s market were particularly discouraging. “No one wants to make their life more stressful and as we age the prospect of a house move can be overwhelming.

“Buying and selling a home is too uncertain, takes too long, and is too expensive.”

She said the HomeOwners Alliance would continue to provide advice and services to simplify the process so people could “cut costs, avoid the pitfalls, and move with confidence.”