17.7% of Walsall owner-occupying OAP’s are in poor health!

17.7% of Walsall owner-occupying OAP’s are in poor health!
17.7% of Walsall owner-occupying OAP’s are in poor health!

“Why should Walsall’s pensioners be forced to downsize? A question I received via social media a couple of weeks ago.  The mature member of a Walsall society came across my article I wrote at the start of the year (see article HERE), about Walsall pensioners feeling trapped in their homes.

There are around 24,000 home owning OAP’s in Walsall.

After working hard for a life time and buying a home for themselves and their family, the children have flown the nest and now they are left to rattle around in a big house. Many feel trapped in their large homes, hence I dubbed these Walsall home owning mature members of our society, ‘Generation Trapped’.

So, should we force OAP Walsall homeowners to downsize?

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Are Walsall Pensioners ‘Trapped’ in their Homes?!

Are Walsall Pensioners ‘Trapped’ in their Homes?!
Are Walsall Pensioners ‘Trapped’ in their Homes?!

During a site visit last week I was approached by a mature, friendly gentleman who lives next door to one of the properties I manage in Pelsall. He lives in a Bungalow, which is one of my favourite property types that he owns outright (mortgage free). We got talking about the Walsall property market and then he mentioned something which piqued my curiosity. How many other Walsall pensioners are in a similar situation?!

Walsall people aged over 65 currently hold more housing wealth in their homes than the annual GDP of the whole of Northumberland (strictly speaking a county can’t have a GDP, but as everyone knows the phrase, it works for comparison purposes!)

This is a problem for everyone in Walsall!

Many retiree’s want to move but cannot, as there is a shortage of such homes for mature people to downsize into. Due to the shortage, bungalows command a 10% to 20% premium per square foot over houses of the same size with stairs. To add to the woes, in 2014, just 1% of new builds in the UK were bungalows, according to the National House Building Council – down from 7% in 1996.

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