A baby booming market…. Retirement property sales booming

A baby booming market…. Retirement property sales booming

October 2014: Sales of specialist retirement properties are continuing to outpace the rest of the UK housing market, the latest figures from specialist property agent Retirement Homesearch (RHS) reveal.
The total sales of retirement properties handled by RHS last year were up 22% year-on-year, compared to a 15% year-on year increase in UK housing market as a whole*.
As the „Baby boomer? generation settles into retirement, total sales value has increased in the retirement sector as well as volume. Property worth £202.4m changed hands through RHS in the 12 months to 30 June 2014 – a 27% year-on-year increase.
Other strong market indicators from the last 12 months of RHS? sales include:
? The average price of retirement property is £115,981.15 – up 4.6% year-on-year
? Enquiries rose 22.3% year-on-year
? The increased activity helped narrow the average gap between marketed price and sale to under £10,000 (£9,849.95)
? The most expensive house sold by RHS over the last 12 months cost £332,000
? A third (34.6%) of all visits to RetirementHomesearch.com are now made via a phone or tablet
The south of England is still dominating the country when it comes to sales of retirement properties.
Bournemouth, Southampton and Chelmsford are the top selling, fastest growing towns in terms of retirement sales over the last 12 months. The top six fastest growing locations are also all in the south east or south coast and Essex tops the counties in terms of sales over the last 12 months, followed by Kent and Surrey, showing that proximity to London is still a big draw for retireees.
The only strong location in the north of England was the Cheshire town of Northwich (year-on-year growth of 18.2%), but the county-wide figures show strong year-on-year growth for Tyne and Wear, Lancashire, Yorkshire and Merseyside.
David Gabriel, head of Retirement Homesearch, said: “We?re seeing strong increases in enquiries, sales and prices and that means retirees who have been holding on to a family home are finding it much easier to sell.
“The way people search for property has been revolutionized by technology over the last few years, and the fact more than a third of people who visit our website do so through a mobile device shows retirees are taking advantage of this too.”

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