MHCLG has today responded to the final report of the Task Force on Older People’s Housing – see The Older People’s Housing Taskforce Report: government response – GOV.UK
The government acknowledges that more can be done to grow the purpose-built older people’s housing sector and notes the Taskforce’s assessment of how we might learn from international comparators – such as New Zealand – to do so.
The government’s says today’s response will be followed by a wider roadmap, setting out how the whole of government intends to take forward this work in the years to come.
Commenting on the government’s response, Michael Voges, Chief Executive of ARCO, said:
“It’s fantastic the government has accepted all the recommendations of the Older People’s Housing Task Force – but the hard work starts now.
The world has changed since the Task Force concluded, with economic headwinds sweeping the housing sector and inflationary pressures on household budgets.
Half a million people now turn 80 each year – the average age of moving into an Integrated Retirement Community. The government has bold plans for devolution, place-making and a National Care Service – but equally bold action on housing for our ageing population is required.
Older people’s housing could make a much bigger contribution to general housing supply – as shown by New Zealand – but this means putting affordability first, thinking very differently about tenure and consumer regulation, and learning from other countries. We’re pleased the government has already said it is exploring ARCO’s proposals for a bespoke tenure for housing-with-care with a view to amending the Commonhold and Leasehold Reform Bill.”
In its Task Force response, the government notes issues in the private, for-sale older people’s housing sector – including poor resale values – and says that in response, it will take forward research into resale values of private older people’s housing, to deepen understanding of the drivers behind resale values and why some models retain their value, while others do not.
Michael Voges said:
“We welcome the government’s decision to take forward research into resale values of private older people’s housing, to deepen our understanding of the drivers behind resale values and why some models retain their value, while others do not. Different models of older people’s housing lead to different outcomes for consumers. Independent evidence shows that models in which operators have a direct financial interest in resale values – such as Integrated Retirement Communities – track average house price inflation over the long-term. Understanding this will be key to consumer confidence in future.”
