UK’s retirement homes shortage

RETIREMENT housebuilder McCarthy & Stone says Britain is not ready for the demands of its rapidly-ageing population, as profits halved due to tepid demand.

Profits were battered, falling 52pc to £10.5m for the half-year ending February 28, while revenues saw 1pc growth at £239.6m.

The group said the Government is in danger of ignoring older people by concentrating on first-time buyers, and should back building more retirement homes.