UK retirement market set to take off –60% of the size of Australian market

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England’s largest builder of retirement apartments, McCarthy & Stone, has announced it is ramping up its construction activity thanks to growing demand. Unlike Australian retirement accommodation, the UK model is closer to a ‘cluster home’ concept. (Check them out HERE). McCarthy & Stone currently has 360 ‘cluster home’ sites with 250 in currently in development, valued at $2 billion. Last financial year they sold 1,527 homes. Research commissioned by the Home Builders Federation found that 25% of people over 60 were interested in buying a retirement property or 3.5 million people. Currently in the UK only has 100,000 retirement properties have been built.

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