Retired Britons Head For The City

steven.herd@mylondonhome.com
+44(0) 20 7820 4774

The latest retirement trend is quite surprising. It’s not about the latest lawnmower or the fabulous addition to the menu at the local garden centre. No. In fact, the latest retirement trend couldn’t be further from gardening in the suburbs –amazingly, pensioners are moving to the city!

Retirees are usually associated with escaping to the sun or pottering away in the garage but not anymore, according to an article in the Telegraph – London is the new destination of choice.
A recent survey by LV insurance showed that workers nearing retirement age are now putting family, transport and amenities ahead of the countryside. Essentially, the retired are now looking for a life with a little more excitement than the relatively rural tranquillity of destinations such as Devon and Cornwall.
It makes sense when you consider the plus points of moving to an apartment in the capital: no stairs, 24hr concierge, little to no maintenance and maybe even through in a swimming pool or gym. Not to mention the vast array of social events available to the retired in a city such as London.
This however isn’t just a trend associated with London; many other British cities across the UK are experiencing a similar influx of the “grey” buyers. Birmingham for example, is currently seeing a large volume of enterprising pensioners moving out of the suburbs and purchasing modern apartments in the heart of the city. This is also being seen in cities such as Cambridge, Edinburgh and surprisingly overseas in Paris.
Of course this doesn’t exactly bode well for the already struggling seaside towns, but it is only as a good thing for our fair capital city.

This post was written by:

Steven Herd

Steven's extensive 30 years of estate agency experience in London culminated in launching MyLondonHome, which has enabled him to bring together a hand-picked team to provide the high level of quality advice, market strength and service he is renowned for.

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