My Future Living responds to new Age UK report: Why renting could be the solution for ‘last-time buyers’

My Future Living has responded to a new Age UK report[i] warning of a “chronic shortage” of homes suitable for older movers, saying that renting in retirement could be a key part of the solution for people looking to downsize and live well in later life.

Age UK’s ‘Late Movers’ report highlights that too many older people are living in homes that won’t support them to age well, calling for a housing strategy that focuses on people aged 50–75 moving within mainstream housing. The charity’s findings reveal the scale of the challenge facing older movers:

Nearly half (47%) of people aged 66–74 have moved since turning 50
More than one in three (36%), equivalent to 4.4 million people, are worried about the affordability of their home as they age
Four in ten (42%), around 5.1 million people, are concerned about accessibility
Almost three-quarters (72%) of those aged 66–74 believe it will be difficult to move once they are over 75

Joanne Couch, Director of Finance & Operations at My Future Living, said: “This report reinforces what we’re hearing every day, that many older people want to move but struggle to find homes that meet their needs, whether that’s affordability, accessibility or location.

“Renting in retirement offers a practical and flexible alternative for those who want to downsize, free up capital, and live independently without the burden of property maintenance. We see first-hand how renting can give people the confidence and freedom to enjoy later life in comfort and security.”

My Future Living specialises in providing affordable rental apartments across the UK for people aged 55 and over. The company supports retirees who want to live in well-managed communities close to amenities, friends and family, without the long-term financial commitments of ownership.

As Age UK calls for stronger housing strategies that enable people to “age well” in mainstream housing, My Future Living believes renting must play a central role in the conversation.

Joanne Couch adds: “We need to look beyond traditional ownership models. Renting gives people the opportunity to right-size in a way that’s financially sustainable, flexible, and secure. For many, it’s not a last resort – it’s the right move to enjoy a comfortable and sociable retirement.”

Eighty-nine-year-old Donald Chemney moved into a one-bedroom apartment at Brook Court in Salford, Greater Manchester in 2023 after his wife moved into a nearby care home. A retired butcher, baker, soldier and oil industry worker, Donald says the move was one of the best decisions he’s ever made – second only to marrying his wife.

Located just a 15-minute walk from her care home, his new home allows him to visit her daily while enjoying a friendly, welcoming community. What first struck Donald was how warm and sociable everyone was. “Everywhere I turned, there was a friendly face, a kind word, and someone to have a chat with,” he said.

He now enjoys an active social life, taking part in bingo, BBQs, coffee mornings and games nights, as well as helping out in the communal gardens. The sense of belonging has transformed his retirement. “I no longer feel alone – there’s always someone to talk to, and I feel part of something again,” Donald said.

Financially, renting has also brought peace of mind, allowing him to support his wife’s care and enjoy his later years without the burden of homeownership.

To find out more about available homes and retirement rental options, visit: www.myfutureliving.co.uk

[i] https://www.standard.co.uk/homesandproperty/property-news/chronic-shortage-of-homes-suitable-for-last-time-buyers-age-uk-b1252740.html