Top towns for downsizers
Huge number of people over 55 plan to downsize, with many looking to move to a new town.
The latest Prudential Downsizing Index has revealed that 2.5 million people are looking to downsize when they next move home.
More than 40% of over 55s plan to sell their current home, with 75% of them looking to downsize.
The top reason for wanting to downsize is that their current property simply has too much space (61%), while the convenience of running a smaller home is also a big factor (58%).
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Retirement hotspots
Around a third of downsizers want to use the move to a smaller property to coincide with relocating to a different town or city within the UK.
Analysis of data from the latest Census shows that Cornwall, Arun and North Somerset are the most popular retirement destinations in England and Wales for people aged 65. How about the rest of the top 10?
|
Local authority |
Net gain of residents over 65 |
|
Cornwall, Isles of Scilly |
603 |
|
Arun |
366 |
|
North Somerset |
333 |
|
Gwynedd |
311 |
|
Eastbourne |
280 |
|
Tendring |
273 |
|
New Forest |
264 |
|
Cheshire East |
262 |
|
Conwy |
256 |
|
Worthing/Wiltshire |
247 |
And these are the places that older people are most likely to be leaving:
|
Local authority |
Net loss of residents over 65 |
|
Birmingham |
651 |
|
Brent |
388 |
|
Bromley |
361 |
|
Leeds |
337 |
|
Ealing |
332 |
|
Southwark |
313 |
|
Harrow |
302 |
|
Haringey |
299 |
|
Newham |
289 |
Are you planning to downsize? Will you relocate as well? Tell us in the comments below.
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More on housing:
Surveyor body predicts that house prices will recover
Halifax: house prices still slowing
Most Recent
Comments
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Have to laugh at the idea of tourists stopping the locals getting around. In my experience it is the locals who all drive at 20 mph who stop the tourists moving around. But I am with LONDONSCHILD. Much as I would like to move to the seaside, as I get older the convenience of my current house outweighs ANY other consideration.
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Moving to these places to retire is a terrible idea, where I live everything is within walking distance and there are excellence buses and trains. If you can afford it arrange a getaway e.g. caravan, motor home etc., but never, never move to the country!
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Had to laugh at Nickpike.We went a couple of years ago to see a relation that my wife had discovered. They had moved from Fulham. I asked what teh big gas bottles were for outside the house- he said central heating. I said where are the nearest big shops he said Exeter! No motorways in Cornwall so you go slow. Oh in summer you get stuck in the tourist traffic. So whats the weather like O say- wet and windy he says and the trees were nearly horizontal. I see, well I was glad to get back to the Midlands' calm - and the good shops,hospitals etc. It is a dream to live by the sea but seems to best stay a dream.
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18 November 2014