The safety and security provided by retirement living is driving increased demand says ARCO.
According to the Associated Retirement Community Operators (ARCO) say that sales and lettings in the last month were higher than in the same period in 2019, while 55% of respondents report that sales and lettings were at least 30% higher than in 2019.
ARCO represents 27 private and Not For Profit village operators – around 50% of the UK’s village sector.
The COVID pandemic, which has killed nearly 45,000 Britons and a disproportional number of over 60’s, has made many seniors re-think their living options.
65% of operators said that the most common drivers were a desire for more company and social interaction, with 65% customers realising that the houses they were previously living in were not suitable anymore.
60% of operators also indicated that demand was driven by a desire to access a support network ahead of another period of lockdown.
ARCO is now calling on the Government to create a Housing-with-Care Task Force to help eliminate barriers to the expansion of the sector.
UK’s retirement living sector is still relatively small at less than 1% penetration along over-65s compared to the US, Australia and New Zealand which is closer to 5 to 6%.