Propertymark is celebrating after its proposals were included in key recommendations made by the UK Government’s Older People’s Housing Taskforce.
The trade body welcomed the taskforce’s report, which aims to improve housing options for older Brits, offering more choice, quality and security.
Among the taskforce’s nine core recommendations, several echoed Propertymark’s suggestions, including a call for stamp duty reform to help last-time buyers downsize. Propertymark argues that such a move could free up much-needed family homes for younger generations.
The taskforce also backed Propertymark’s push for incentives for developers to build accessible housing, suggesting tax breaks and other support to boost construction of retirement-friendly properties.
TIGHTER REGULATION
Another win for the group was a recommendation for tighter regulation on event fees in specialist retirement housing. Propertymark has long advocated for a code of practice to ensure transparency, following a 2017 Law Commission draft.
The report comes after Propertymark’s collaboration with the taskforce chair, Professor Julienne Meyer, and its detailed consultation submission.
Looking ahead, Propertymark is eyeing more innovative ideas, including a rating system for assessing how age-friendly homes and communities are. The body hopes its members will be part of a pilot scheme to test the concept.
The report’s overarching tenth recommendation calls for swift delivery of the proposals to meet growing demand for better housing for the elderly.
IMPROVE SUPPLY
Tim Thomas, Policy and Campaigns Officer at Propertymark, says: “We welcome the Older People’s Housing Taskforce report and are delighted to see that the Taskforce share Propertymark’s policy positions on the need to improve supply across all tenures for older people.
“This is key as the proportion of people aged 50 to 64 who privately rent has nearly doubled over the past decade.”
LAST TIME BUYERS
And he adds: “Equally, we are pleased to see the Taskforce agree on the value of adopting incentives for last time buyers including stamp duty reform for over 65-year-olds, which we also shared with the Chancellor of the Exchequer in our recent budget representation.
“Propertymark will continue our exciting conversations on the development of a rating scheme to assess the appropriateness of older people’s housing, and we look forward to continuing to engage with officials, Ministers and other stakeholders to ensure there are more housing options for older people and future generations.”
