Stephanie McMahon
Head of Research
Stephanie McMahon, head of research at Strutt & Parker, gives her thoughts on 'later life living', following the news that increasing numbers of over 65s are living with no child nearby.
Stephanie McMahon, head of research at Strutt & Parker, gives her thoughts on 'later life living', following the news that increasing numbers of over 65s are living with no child nearby.
If you have watched the news today, you will have seen that according to a report from the Institute for Public Policy Research (IPPR), by 2030 there will be more than two million people aged 65 and over with no child living nearby to give care if needed.
The UK’s demography is a ticking time-bomb, not just because of the baby boomer generation now moving into retirement and beyond, but also due to our lifestyle and cultural choices which are resulting in changing behaviour, for example, by 2033 approximately 60% of household growth will be headed by a person over 65.
Our Housing Futures research explores the movement of the large 20-year demographic ‘bump’ of baby boomers into retirement, where one might expect to see a run on age-limited communities on the edge of towns. However, the baby boomers in our research have been quite clear to voice their objections to living the same way as their parents did in retirement.
Being typically in good health, with good pensions and active lifestyles, they desire to live where they can continue to have their established lifestyle minus the day job. Hence the need for Platinum Places – a phrase we have coined to describe new mixed communities that are part of a town.
Replacing some of the traditional retail spaces in town centres that are sitting vacant (thanks to online shopping), imagine a development open to all ages that easily combines access to amenities that go beyond day-to-day living requirements, with easy access to cultural experiences such as theatres and farmers’ markets. Plus, such developments would offer facilities such as gyms and swimming pools tailored specifically to the needs of different members of the community. Ultimately, inclusion, not segregation, will be the tenet for the future.
The IPPR said the country must "build new community institutions" to cope, we think Platinum Places are one step closer to that vision.
To read more about our Housing Futures research please click here.