Building more retirement properties in the UK would free up more than three million homes, offering a lifeline to families desperate to move up the housing ladder, according to a new report.
Analysis by the think tank Demos reveals 58% of over 60s are interested in moving but feel restricted by a lack of suitable alternative housing or a fear of an unfamiliar environment.
Those interested in downsizing are currently sitting on £400 billion of housing wealth and the report says that helping them move would free up 3.29 million properties, including two million three bedroom homes more suited to families.
Demos polling also shows that 76% of those over 60s wanting to move and occupying three, four and five bedroom houses wish to downsize. The research also tops previous estimates of pensioner's housing wealth, finding over 60s own £1.28 trillion in housing equity in England alone.
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