According to a report by the Open Property Data Association (OPDA), older homeowners should be helped to downsize to make better use of the UK housing stock. Britain is short of housing, partly caused by a lack of new build homes.
Research by the OPDA found that many older homeowners are downsizing, with 34% of people aged between 65 and 74 and half of those over 75 who purchased a home in the last five years saying that they bought a smaller home. However, 55% of those between 65 and 74, and 68% over 75 say that long house buying transaction times put them off moving.
The Chair of OPDA, Maria Harris, said:
“There is a clear desire among older homeowners to move, but the current system feels too slow and expensive to make it a viable option.”
She says that digital technology could speed up the home-buying system. Digital Property Packs are a solution that enables sellers and buyers to easily access and verify essential house information to streamline transactions and reduce house sale fall-through rates.
Harris says that there is a perception that older people are resistant to new technology, but research shows that elderly people are actively looking for technology that makes home buying quicker and simpler.
The difficulty of transporting possessions to the new house can also be a barrier to moving. Merseyside Movers & Storers make house removals in Liverpool easier. We’ll pack up your belongings for you and take them safely to your new home.
