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Retirement hotspots revealed

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27/09/2019
If you're looking for a home in later life, here's where you can have your pick of the bunch
Retirement hotspots revealed

Portsmouth has the highest level of retirement property stock as a proportion of all stock, according to GetAgent.

The estate agent comparison site found that 5.4% of properties listed in the city fall within the retirement category.

Bournemouth ranked second with 3.8% of all stock listed as retirement properties, closely followed by Oxford (3.4%), Bristol (3,3%) and Cambridge (3.1%).

Sutton was the London borough home to the highest level of retirement stock in London at 5.9%, with Redbridge, Bexley and Bromley also home to 4% or more of the total stock listed for silver homebuyers.

What about demand?

GetAgent also looked at where the highest demand for this stock was across the UK based on the number of properties sold to those listed for sale.

Edinburgh is the most in-demand town for silver homebuyers with 57.8% of all retirement stock listed already under offer or sold subject to contract.

Newport in Wales came second with a demand score of 55%, with Glasgow (46.8%), Manchester (43.8%) and Sheffield (41.5%) also ranking high.

Founder and CEO of GetAgent.co.uk, Colby Short, said: “We tend to focus on those taking that first step on the ladder but there is, of course, a whole other segment of buyers at the other end of the property life-cycle.

“Although silver homebuyers account for a more marginal share of the market, it’s interesting to see where they are opting for when it comes to investing in their golden years and how this demand has shifted from the perhaps more traditional areas.

“Previously, the trend was to move to the coast and while these areas are still home to some of the highest level of retirement properties as a result, it would seem that Edinburgh is now the most in-demand amongst buyers and in need of more retirement-focussed developments.”

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