Older People’s Housing Taskforce is a unique opportunity to revitalise the housing market

COMMENT The UK is facing a housing crisis in more ways than one. But it is the needs of the UK’s older population – those who have offered and continue to offer so much to our country – who take a backseat in national policy debates. That changed last week with confirmation that the government will launch the cross-party Older People’s Housing Taskforce, chaired by Julienne Meyer, professor emerita of nursing: care for older people at City University. It has the potential to grow the supply of older people’s housing across all types and tenures and give more older people the opportunity to find a home better suited to their needs. It provides a unique platform for government and the sector to come together to address the historic undersupply of housing options for older people while also freeing up existing homes for younger people. Two for one Building new homes specifically designed for the older age group provides “two for one”: when an older person moves from a family home to a bungalow or retirement flat, they free up a larger property for a new family. This provides economic stimulus by generating several other movements down the housing ladder, typically ending with a first-time buyer entering the market. Around 3m older people would like to downsize to somewhere better suited to their needs. Yet delivery of retirement housing has fallen to just 7,500 properties per annum – despite demand estimated at more than 30,000. Increasing delivery rates to this level would provide £2bn of additional economic activity every year. Retirement communities help older people avoid loneliness, maintain their independence and improve their health and wellbeing. The saving to local health services is estimated to be £3,500 per person per year from each retirement property. Retirement communities also regenerate town centres. More than 90% of our sites are on brownfield land on or close to the high street and near local conveniences where our customers wish to live. Years of undersupply At the end of last year, McCarthy Stone led a parliamentary roundtable on older people’s housing which was hosted by Damian Green, chair of the All-Party Parliamentary Group for Adult Social Care. The attendees, a mixture of parliamentarians, government officials and representatives from across the housing industry, were united: they agreed that years of undersupply of specialist housing for older people needs to be rebalanced. The launch of this taskforce shows that the government is committed to solving this issue, with its backing by both the Department for Levelling Up, Housing and Communities and the Department of Health and Social Care. With a strong mandate and the expertise of our sector, it can be transformational in driving change on this crucial, long-standing issue. There is a lot that the taskforce can address, including how the current planning system disincentivises the building of housing that is specifically designed for older people; revitalising Homes England’s Older Person’s Shared Ownership scheme; creating viable new tenure options for our industry; and ensuring that all local councils include housing for older people in their plans. A stamp duty exemption for older people moving into a retirement community would also encourage downsizing and galvanise the wider market. By incentivising the building of more retirement properties, we can take a step towards unblocking the housing market and ultimately help first-time buyers onto the ladder. The taskforce and new legislation should come together to make progress in ensuring that more older people live happier and healthier lives, while at the same time helping younger people find the homes they need. John Tonkiss is chief executive at McCarthy Stone