The retirement and care village market is in its infancy in the UK. The sector potential and opportunity to access it are extensive. Accessing the sector requires special advice in order to capitalise fully on the sector potential.
The retired population in the UK accounts for approximately 10 million people. This is a significant and fast growing economic force. Over the next 25 years, this section of the population is set to grow by 55% to approximately 15 million. This represents exponential demand in a sector where the supply side is currently small, fragmented and relatively unsophisticated. The retirement and care village concept is set to target this growing market.
The over 65 group accounts for much of the UK’s wealth. Approximately 75% of this group own their own homes. Home ownership in over 65’s is largely mortgage free which means many older people are able to buy into the care and retirement village market with immediacy.
Retirement and care villages in the UK are a relatively new concept by comparison to countries such as USA, New Zealand and Australia where sector maturity exists. In these countries, senior living communities are widely established as a sophisticated solution to ageing populations.