16 Oct

Pensioners back downsizing in survey

Pensioners back downsizing in survey

A new survey has found that the majority of pensioners who have downsized their home believe it has been beneficial.

The study by David Wilson Homes found that 62 per cent of those who had moved from a larger home to a smaller one in retirement believed the move had been a good one for them.

Some of the benefits were practical ones, such as having a smaller garden to maintain, but 28 per cent said there were direct financial benefits to moving.

These included the lower heating costs associated with living in a more modern home equipped with better heating systems and insulation.

House price figures from the Land Registry suggest that there has been little difference in price change between larger homes such as semi-detached houses and the average for all homes in the past year.

August figures revealed that the average semi-detached home in England or Wales had seen its value drop by just 0.1 per cent more than the mean figure over the previous 12 months.

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