The 'Retirement housing: residents' experiences' report by the National House Building Council (NHBC) Foundation found nine out of 10 elderly people have a positive experience of living in a retirement home.
While one million elderly people say they would consider moving into retirement house, only 128,000 homes are estimated to have been built for private sale.
The report added building more retirement properties would bring 'significant benefits' for the elderly, allowing them to live independently for longer while freeing up homes for younger families.
Evidence was also discovered of a willing to pay a premium rate to gain the benefits of good quality retirement living.
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However, respondents commented on a lack of choice of suitable properties which appealed to them.
A total of 63% of participants cited downsizing as the main reason to move, while 59% said they wanted to be in a 'safe and secure' environment. Other important factors were being close to family and having access to support services.
Key recommendations for developers include:
• Elderly people need help with visualising the space if buying off plan
• Car parking availability needs to be improved, especially for visitors
• Developers need to give more consideration to the suitability of design and layouts - particularly kitchens and bathrooms
• Builders need to carry out closer inspection to ensure high levels of quality and minimal defects
Neil Smith, Group Research & Innovation Manager at NHBC, said: "Our research found that there is a high demand for more retirement homes in the UK. Many people are keen to downsize from larger homes to retirement properties, but there is a lack of suitable options.
"There is no doubt that retirement houses bring huge benefits to society by allowing elderly people to live independently for longer within a supportive community of like-minded people.
"Living in retirement housing frees elderly people from the burdens of maintaining a larger home and garden. In addition, it brings wider benefits to society such as freeing up larger homes for younger families and releasing capital."
(LM)
