There needs to be a significant increase in the number of homes being purpose built for older people in the UK, according to a new report.
Millions of home owners in the UK believe that they could still be paying off their mortgage when they are beyond retirement age, new research has found.
The new boss of retirement housebuilder McCarthy & Stone has abandoned growth targets and will cut jobs in a bid to boost margins in the face of a troubled housing market.
Retirement housebuilder Churchill on Wednesday warned proposed changes to Britain’s leasehold system have triggered “cautious” land buying and created market uncertainty.
Retirement housebuilder McCarthy & Stone has looked haggard of late.
Shareholders have been spooked by proposed reforms that could set ground rents on new long leases to zero, leaving developers with less money to construct more properties.
Shares in retirement housebuilder McCarthy & Stone tumbled after it warned profits would slump this year because of economic uncertainty and weaker property prices and that its chief executive would retire in August.
London Mayor Sadiq Khan will this week be forced to rewrite part of his new affordable housing strategy after it was revealed that the country’s biggest retirement housing developers had stopped building in London because the conditions were so punitive.
A negative equity time-bomb is growing under Britain's banks and insurers as baby boomers are unlocking unprecedented sums of cash from their homes in equity release schemes at ever-younger ages.
Government proposals to scrap controversial ground rents have dented McCarthy & Stone's ability to buy land, while its profits for the first half of the year dropped by more than 50pc.
Retirement home builder McCarthy & Stone has cut back on land buying as it braces for a potential hit from government plans to ban new leasehold homes in England.
Work has started on property developer Adlington’s 55 luxury retirement apartments in Southport at a cost of £11.5m.
A group of housebuilders on Friday warned spending on homes for the elderly could dry up as they launched legal action over Sadiq Khan’s affordable housing plan.
Plans for a £13m extra care development for the over 55s in St Helens, Merseyside have been approved.
The blueprint by architect Brock Carmichael has had the scheme approved on behalf of North West housing group Torus.
McCarthy & Stone, the retirement housebuilder, is betting on bungalows and rental homes as it struggles to sell its homes in a sluggish market.
Retirement housing company Audley has signed a joint venture deal with Apache Capital to build homes for older people in central London, with work set to start on the first £125m scheme in Clapham early next year.
Britain’s pensioners are racking up ever-growing levels of debts as higher house prices mean families take longer to get on the property ladder, and people have to borrow more to cover care costs or help their children financially.
The mortgage debts of over-65s are set to double over the next 13 years from £20.1bn to £39.9bn by 2030, the Financial Conduct Authority believes.
Equity release is booming, with older people withdrawing almost £8m a day from their homes, it emerged this week. And there are more schemes than ever available to over-55s looking to unlock the value tied up in their property so they can, for example, pay off their interest-only mortgage.
The age of no retirement could be around the corner as almost one in four people in Britain plan to keep working beyond the age of 70, new research claims.
Soaring living costs, a desire to stave off loneliness and the hope of staying mentally active are among the reasons people want to work well into their golden years, according to a survey of 3,327 UK adults aged over 50.
Legal & General has taken its first step into the retirement housing market by acquiring an existing operator with ambitions to build 3,000 homes for older people in the next five years.
Around half of new build retirement homes sold during a 10-year period were later re-sold at a loss, according to exclusive research for the BBC.
The research by the Elderly Accommodation Counsel charity found falls in value could be more than 50%.
Opt in here