The Thanet Baby Boomer Housing Paradox: Wealth in Property, But Nowhere to Go

The Thanet Baby Boomer Housing Paradox: Wealth In Property, But Nowhere To Go

08/01/2025 37

For decades, baby boomers in the UK have been the quiet beneficiaries of a housing market that has worked in their favour. Rising property prices and a growing housing shortage have pushed home values sky-high, giving this generation substantial equity in their homes. However, as more baby boomers enter retirement age, a new reality sets in: the properties they need for this next stage of life are almost impossible to find. 🏠📈

From Winners to the Woes of Rising Thanet House Prices

Many Thanet baby boomers aged 59 to 78 have benefitted from decades of increasing property values:

The average Thanet home: £10,705 in 1974 → £327,031 today

Their homes have become financial assets, significantly contributing to their net worth. However, their housing needs are shifting as they approach the later stages of life. Accessible, retirement-friendly properties are in critically short supply. Fewer than 10% of UK homes are suitable for limited mobility, and many only come to market after an average of 22 years of ownership. 🏡📉

Only 412 bungalows sold in Thanet in 2024

This leaves many baby boomers stuck in family-sized homes that no longer suit their needs, facing rising energy and maintenance costs. 🛠️💡

Is It ‘Ageing in Your Thanet Home’ or ‘Stuck in Your Thanet Home’?

Many baby boomers find themselves stuck in homes that no longer serve their needs. The 2021 census revealed:

Of 14,126 OAP households in Thanet, 7,424 have two or more spare bedrooms

This creates a bottleneck in the housing market, with younger families struggling to access larger homes, further exacerbating the housing shortage. 🏘️🔄

Why Retirement Housing Isn’t Always Available

Several factors contribute to the shortage of retirement-friendly housing:

Development Trends: New-build developments focus on high-density housing, prioritising flats over bungalows.
Hidden Market Dynamics: Desirable retirement properties often never make it to public property portals, leaving buyers unaware of potential options.

The Costs of Staying Put

Remaining in unsuitable homes can lead to physical, financial, and emotional challenges:

Stairs and large gardens become burdensome
Higher council tax and energy bills strain fixed incomes
Isolation in suburban or rural areas can take an emotional toll

A Possible Solution: A Proactive Approach for Thanet Baby Boomers

If you’re a Thanet baby boomer feeling stuck, consider these steps:

Register Your Interest: Work with local estate agents like Cooke & Co to access off-market opportunities.
Plan Early: Find a buyer willing to wait while you search for the right property.
Explore Creative Options: Adapt your current home with renovations or consider shared living arrangements.

Why Act Now?

Demand for accessible homes will only grow, and competition is increasing. Acting early gives you more options and less stress. 🕒🏡

Here’s How Cooke & Co Can Help

We’ve helped countless Thanet homeowners navigate these challenges. Our personalised service ensures you’re matched with suitable properties while your current home is marketed to its full potential. Let us help you make the next stage of your life seamless and stress-free. ✨🤝

Final Thoughts

Whether downsizing, relocating, or adapting your home, proactive steps can unlock new opportunities. The next chapter of your life deserves the right home—and we’re here to help you find it. Let us know your thoughts in the comments. 📣