Published: 3rd Jun 2020

Elderly people should be encouraged to downsize in order to free up surplus bedrooms and help solve the housing shortage in this country, according to a new report. The report by the Centre for the Study of Financial Innovation (CSFI) shows that nearly 60% of surplus bedrooms lie in households inhabited by over-65s. According to the report, the overall bedroom surplus is projected to exceed 20 million in 2040, with nearly 13 million people above the age of 65 living in largely unsuitable households. The report argues that elderly people should be encouraged to downsize, but the lack of age-friendly housing in the UK limits the options for millions who are open to moving but decide to stay. The shrinking size of households is linked to the ageing of the UK population, with growth in older households set to account for 36 per cent of the projected 3.7 million increase … (To read the full article, subscribe below)