More than 1.2 million homeowners aged 55 and over have abandoned plans to move house in the past two years, according to new research that highlights Britain’s acute shortage of suitable homes for older buyers.
The survey by the HomeOwners Alliance found that one in seven in this age group, equivalent to 14% of homeowners over 55, had considered moving but ultimately stayed put.
Key barriers include the stress and upheaval of moving (41% cited this, compared with 35% of all homeowners); a shortage of suitable properties (34% versus 27%) and reluctance to leave friends and neighbours behind (23% compared with 16%).
The lack of bungalows is a particular pinch point. While 38% of over-55s said they would prefer a bungalow for their next move, the construction of single-storey homes has collapsed.
BETTER HOUSING STRATEGY
NHBC figures show they accounted for 11% of new builds in 1990 but just 1% in 2024, as developers increasingly favour higher-density housing.
Although affordability concerns are often blamed for limiting housing mobility, older homeowners were less likely than younger counterparts to cite house prices (23% versus 35%) or moving costs (24% versus 28%) as barriers.
The findings add pressure on ministers to deliver a comprehensive housing plan, with campaigners warning that without action, older homeowners will remain “stuck” in unsuitable properties, exacerbating the wider housing crisis by preventing family-sized homes from returning to the market.
SINGLE-STOREY SOLUTIONS
Paula Higgins, chief executive of the HomeOwners Alliance, says: “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. NHBC data shows that they made up 11% of new home registrations in 1990, but just 1% in 2024.
“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.”
“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.”
CHRONIC SHORTAGE
Nick Sanderson, Chief Executive of Audley Group, says: “It’s not just bungalows that are in short supply for would-be downsizers.
“There is a chronic shortage of all types of age-specific properties in our housing market.
“Only 8,000 units are expected to be completed this year, a number dwarfed by the 50,000 needed to meet our shifting demographics.
“Ahead of the Autumn Statement, the government must look at how it meets the needs of the whole housing market. Mandating the delivery of age-specific properties, providing incentives for downsizers and stimulating movement up and down the housing ladder.”
