Millions of ‘last-time buyers’ abandon moving plans due to bungalow shortage – research

A bungalow shortage means 1.2m UK homeowners aged 55 and over have put plans to move on hold in the past two years.

That’s one in seven homeowners in this age group (14%) who wanted to move, but ultimately felt unable to, according to research by the HomeOwners Alliance.

This is often because of the stress and upheaval involved, the lack of suitable homes, and a reluctance to leave their community behind.

Older homeowners are more likely than the average homeowner to cite these barriers, the research shows.

The shortage of bungalows is also a major issue, with 38% of homeowners aged 55-plus saying they would prefer a bungalow for their next move, making bungalows the most popular choice among this group.

However, builders are turning away from them, as NHBC data shows they made up 11% of new homes in 1990, but just 1% in 2024.

While house prices for older homeowners (23% vs 35% of all homeowners) and moving costs (24% vs 28% of all homeowners) are also top factors, they appear to be less of a barrier for older homeowners than for younger homeowners, according to the research.

Paula Higgins, chief executive of HomeOwners Alliance, said:

“Our research shows that too many older homeowners feel stuck in homes that no longer work for them but struggle to find an appropriate alternative.

“There is a huge demand for bungalows but hardly any get built anymore. NHBC data shows that they made up 11% of new home registrations in 1990, but just 1% in 2024. With the UK’s rapidly aging population, we hope the government’s long-promised housing strategy looks at a better range of retirement housing, including single-storey solutions.

“No one wants to make their life more stressful and as we age the prospect of a house move can be overwhelming. Buying and selling a home is too uncertain, takes too long, and is too expensive.”

Kindly shared by EstateAgentTODAY Image courtesy of Adobe