Retirement Housing Development Marches On
Posted by Knight Frank Newcastle on 7th August 2023 -
The composition of the Seniors Housing market in the UK is shifting. Over the past decade, our research points to an uptick in the range of accommodation options available to seniors. Mixed-tenure and rental only options have increased, as well as greater affordable housing provision and schemes with varying levels of facilities and care facilities.
Retirement Housing product continues to lead in terms of scheme openings. Our data shows that, of the 145 seniors housing schemes which became operational in 2022, 84 (or 58%) were Retirement Housing projects, supported by robust supply pipelines from established UK developers including McCarthy Stone, Churchill, Lifestory and Beechcroft – who all opened multiple schemes last year. The remaining 42% of schemes were Integrated Retirement Communities (IRCs), which offer greater amenity and care provision and are often larger in scale.
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