Newbury Weekly News

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Thursday, May 11, 2017
PROPERTY SPOTLIGHTS
New start in Old House
BRADFIELDSOUTHEND £1,600,000
Market comment by LEEFENN-TRIPP, directorofDowner&CoLettings
Newbur
Generation Trapped
needs a helping hand
SHOULD the Government
incentivise downsizers ?
This was a question posed to me
on social media a few weeks ago
after my article about our
mature members of Newbury
society and the fact many
retirees feel trapped in their
homes.
After working hard for many
years and buying a home for
themselves and their family, the
children have flown the nest and
now they are left to rattle round
in a big house.
Many feel trapped in their big
homes (hence I dubbed these
Newbury home-owning mature
members of our society
Generation Trapped).
So, should we incentivise
Newbury’s over 65s to downsize?
Well, in the original article, I
suggested that we as a society
should encourage, through
building, tax breaks and social
acceptance, that it’s a good thing
to downsize.
But should the Government
incentivise pensioners?
One of the biggest reasons
pensioners move home is health
(or lack of it).
Looking at the statistics for
Newbury, of the 4,626 homeown-
ers who are 65 years and older,
while 2,863 of them described
themselves in good or very good
health, a sizeable 1,387 home-
owning pensioners described
themselves as in fair health and
376 in bad or very bad health.
More than eight per cent of
Newbury home-owning
pensioners are in poor health.
But if you look at the figures for
the whole of West Berkshire
Council, there are only 682
specialist retirement homes that
one could buy (if they were in
fact for sale) and 1,298 homes
available to rent from the council
and other specialist providers.
Again, you would be waiting to
get your foot in the door and
most older homeowners
wouldn’t feel comfortable with
renting a retirement property
after enjoying the security of
owning their own home for
most of their adult lives.
My intuition tells me the major-
ity of would-be Newbury down -
sizers could afford to move, but
are staying put in bigger family
homes because they can’t find a
suitable smaller property.
The fact is there simply aren ’t
enough bungalows for the
healthy older members of the
Newbury population and special-
ist retirement properties for the
ones who aren ’t in such good
health – we need to build more
appropriate houses in Newbury.
The Government’s Housing
White Paper, published a few
weeks ago, could have solved so
many problems with the UK
housing market, including the
issue of homing our aging
population.
Instead, it ended up feeling
annoyingly ambiguous.
Forcing our older generation to
move with such measures as a
punitive taxation (say a tax on
wasted bedrooms for people who
are retired) would be the wrong
thing to do.
Instead of the stick – maybe the
Government could use the car ot
tactics and offered tax breaks for
downsizers.
Who knows – but something has
to happen?
And, come to think about it, isn ’t
the word ‘ downsize’ such an
awful word?
I prefer to use the word ‘ decent-
size’ instead of ‘down-size’, as
the other phrase feels like they
are lowering themselves, as
though they are having to
downgrade in their retirement.
The simple fact is we are living
longer as a population and
constantly growing with
increased birth rates and
immigration.
So, what I would say to all the
homeowners and property
owning public of Newbury is
more houses and apartments
need to be built in the Newbury
area, especially more specialist
retirement properties and
bungalows.
The Government had a golden
opportunity with the White
Paper – and were sadly found
lacking.
Finally, a message to my
Newbury property investor
readers while this issue gets
sorted in the coming decade(s).
Maybe seriously consider doing
up older bungalows – people
will pay handsomely for them –
be they for sale or even rent?
Just a thought!
n If you want to know what (and
what would not) make a decent
buy-to-let property in Newbury,
then one place for such
information would be the
Newbury property blog.
Please visit www.newburyprop-
, view our pages
on Facebook or pop into our
office in Cheap Street in
Newbury.
THE Old House is a fine
detached period property
situated down a quiet
country road – Cock Lane.
It has wonderful proportions
and large windows, enhancing
the light and airy feel which is
apparent throughout the house.
The property is presented in a
stylish yet comfortable manner,
exuding welcoming warmth
throughout.
The property comprises a large
drawing room, a delightful
family room/snug with wood-
burner, perfect for cosy
evenings, and both have lovely
aspects over the grounds.
This in turn leads through to
the kitchen/dining room which
is the hub of the house and
features bespoke units with a
central island and which also
provides a generous dining
area.
The laundry/utility room has a
separate entrance to outside –
ideal for families with dogs –
together with a separate WC
and a shower room.
The first floor features a master
suite which has a dressing room
and bathroom.
There are three further good-
sized bedrooms plus a smaller
fourth/study and a family
bathroom.
The grounds are largely laid to
lawn with mature hedging,
shrubbery and flower borders.
A wonderful patio area has been
created with a sizeable terrace
and most attractive brick-built
barbecue, which is flanked by
two large beds with low box
hedging.
There is also a smaller patio,
again offering a charming
setting for informal outside
dining.
For more details, please
contact (01635) 582111 or
Newbury Weekly News