OPPORTUNITY+STICK+CARROT RETIREMENT HOUSING OPPORTUNITY+STICK+CARROT Matthew Fox 9th July, 2015

THE OLD WORLD Over 33% of HA tenants over 65 In next decade, 35-55’s actually decline Within 10 years, 25% of total population 1% of over 60’s in Retirement Living vs 17% in US 25% say that will go to Retirement Living Over 50% under-occupy 7,000 homes pa vs 30,000 in 1980’s.

DEVELOPER RESPONSE Retirement Housing is specialist Larger flats so fewer units Management grief Tricky for sale market Happy, Smiling Young Families Not a private rental market Older residents are good tenants.

STICK Fresh air of Transparency % of Homes Under-occupied Lost Value of Under-occupied Homes % Churn Hidden Property Value.

CARROT Won’t move if rent will double Have to offer a Social Rent Cannot because no Grant So, nothing is developed Use the Historic Unit Rent Historic at Affordable or Market and …. Cross-Subsidise.

CARROT (diced) Impact on Benefit Bill House only those not on Benefits Incentives for more downsizing Essential element of large, multiuse sites Length of Social Commitment Revenue Funding / Service Charges Value for Money / Counter-factual.

ASSISTIVE TECH Smart Homes Sensors for Energy Sensors for Activity Reminders Staff Savings.

DATA Age of Old People Under-Occupancy Stair Problems Garden Problems Now / in 5 / in 10 / in 15 Planned Development.

STRATEGY Well-being not just Homes Multi-Stakeholder Homes Advice Assistive Tech Delivery Plan.

SO WHAT IS RETIREMENT HOUSING? IT’S THE BIGGEST…….

QUESTIONS