Over-55s ‘stuck in large homes’

DUBBED ‘generation stuck’, one Briton in three aged 55 or over is unable to downsize to a smaller home because of a lack of suitable housing, a report says.

It found a chronic under-supply of properties for later life, including purpose-built retirement housing, means millions are stuck in under-occupied homes unsuited to their needs.

Nearly half of the 1,252 homeowners surveyed would consider downsizing or have done so.

Motivations include reduced property maintenance, lower bills and children leaving home.

The report, commissioned by housebuilder McCarthy & Stone, said: ‘It is clear there remains an inadequate supply of the kinds of properties that would serve older households.’