Cushman & Wakefield RETHINKING: The Shape Of Real Estate 2040

Today there are 603,000 seniors housing units, however there aren’t a great range of products available. Integrated Retirement Communities (IRCs) cater for a greater range of older people’s needs, but these only make up 15% of senior housing units and the majority (78%) are public or voluntary rental units. The private IRC market is dominated by the for sale tenure (93% of private IRCs are for sale), with only 1,400 operating private rental IRCs. Despite increased awareness of the UK’s ageing population and the burden this will place on the UK’s public services, the delivery of seniors housing has barely increased. Planning achievability has restricted the ability of operators to deploy this capital. Misalignment of social care, healthcare and housing policy has also delayed progress. Although consumer understanding of seniors housing has improved, there is still work to be done if we are to replicate an aspirational market like New Zealand, US, Australia and Canada. House builders also need to be encouraged to diversify their exit routes to support the delivery of seniors housing.

RETHINKING: THE SHAPE OF REAL ESTATE IN THE UK

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CUSHMAN & WAKEFIELD