McCarthy & Stone leads calls for support to help elderly homebuyers

Michael Bow
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The housebuilder, which caters for the elderly, has enjoyed a bumper rise in profits
Retirement housebuilder McCarthy & Stone yesterday called on ministers to focus on addressing housing issues for the elderly and not just first-time buyers.

The company, founded in 1977, said housing for the over-65s must become a “priority” for the government.

“Most household growth over the next 20 years will involve older people and policy makers need to look beyond the first time buyer,” McCarthy & Stone chairman John White said.

“Retirement housing improves well-being, releases under-occupied family-sized homes and is highly sustainable. It must become an essential part of overall UK housing output.”

The comments come as the company reported a 25 per cent rise in revenue to £387.8m for the year ending 31 August.

Overall pre-profits before exceptional items were £63.2m, up from £12.5m in the prior year.

Building completions also rose 10 per cent to 1,677, up from 1,527 in 2013. The average selling price was £214,000.

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