Will downsizing get a boost from housing white paper?

23/01/17
 

The government's long-awaited white paper on housing - due to be published shortly - is widely expected to feature measures to promote downsizing by older homeowners.

In particular the proposals are predicted to include exemptions on stamp duty for older people moving to smaller properties, thereby freeing up larger homes for younger families.

Recent research by downsizingdirect.com shows that the main barriers to older people downsizing are the costs and hassle of moving, the lack of alternative housing options for older people, family factors and the problems of decluttering.

As well as reducing the cost of moving, the government should also invest in more homes for older people, says Stephen Burke, director of downsizingdirect.com.

He added: "There are big benefits for older people from downsizing - and it's a win-win for younger people too by releasing family-sized homes. But to make downsizing work, we need more options for 'last-time buyers' as well as for those getting onto the housing ladder." 

downsizingdirect.com provides practical advice and support to older people and their families considering moving to a smaaller home.

 

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