John Tonkiss (McCarthy & Stone), Mark Dickinson (Lifestory Group), and Spencer J McCarthy (Churchill Retirement Living) are the country’s three largest retirement homes developers. They have signed a letter sent to the Prime Minister stating the government to set a national target and build 10% of new housing for older people.
Boris Johnson has taken measures to prioritize house building to help boost economic recovery. This sets the social and economic benefits of building 30,000 new retirement properties a year. This is the right time to build policy group Homes for Later Living, said the developers in the letter. An urgent action to help the millions of people who want to downsize will be much avoided, addressed the letter.
Furthermore, the letter reads that the current situation of covid-19 pandemic can be overruled, by helping vulnerable people with better protection in the future. This permanent rescue system for aged people would stimulate transactions throughout the housing market. The government’s support of helping aged persons can in turn help young families and would generate savings to the NHS and social care services of £3,500 per person per year.