With an ageing and growing population, Britain is continuing to invest in a greater number of care home services for its pensioners.
Released in August, figures from the Office for National Statistics demonstrated that whilst there has been a surge in the number of pensioners, the number of those in care homes has remained much the same. Recorded between 2001 and 2011, the figures demonstrate that the number of elderly people living in residential care facilities had risen to near 291,000, accounting for an increase of just 1,000 people.
The small size of the increase can be in part attributed to the fall in birth rates during and in the immediate aftermath of the First World War. The statistics showed that between 2001 and 2005, the number of pensioners entering care homes remained stable with the majority of the increase occurring in the latter half of the decade.
Whilst these figures show just a small increase in the number of care home admissions over the assessed decade, the increases towards the end of this period are indicative of the trends to come. Taking into consideration the rise in life expectancy, the post-War baby boom and the increased quality in social care overall, the demand for care homes is likely to increase.
According to Government projections, the number of people over the age of 60 will increase by 40% by the year 2031. The figures also estimated that the number of places in care homes with nursing care will need to accommodate 1,130,000 by 2051 to meet demands. With pressure being placed on the NHS to provide community care in addition to residential and healthcare services, the private sector has continued to construct and provide care home services.
With demand on the rise, care homes are an excellent opportunity for property investment. Calderdale House is an exceptional care home investment located at the idyllic southern tip of the Yorkshire Dales, offering investors a NET rental return of 8% assured for ten years. Construction at Calderdale House is already underway with completion due for August 2015.
For more information on Calderdale House, please click here.