Choosing where to live is a decision brimming with possibility. But for downsizers in particular – freed from the strictures of school catchment areas and commuter links – it’s a time of unprecedented choice.
Do you opt to live beside the sea or head to the countryside? Perhaps you seek small-town buzz rather than a tranquil village?
For inspiration, Wealth & Personal Finance has gone househunting in the locations with the highest proportion of over-60s moving in, according to analysis by Hamptons Research using the latest available data from the Office for National Statistics (ONS), for 2022. Here’s a look at what’s behind the appeal of the most in-demand destinations.
East Lindsey, Lincolnshire
East Lindsey is the area where the highest proportion of outsiders moving in are over 60
Downsizing homes here meet every requirement – they’re affordable and close to the coast and picturesque countryside. So it’s little surprise that East Lindsey is the area where the highest proportion of outsiders moving in are over 60. Close to a third of incomers are in this age bracket, according to the analysis by Hamptons Research.
Homes cost an average of £228,410 in East Lindsey. For well under £200,000 you can find a nice bungalow and this area offers those in spades, according to Tony Wing of the agent Robert Bell & Company. ‘People move from south-east England and Yorkshire because their money goes so much further,’ he says. ‘The area offers a nice, relaxed lifestyle.’
Retirees will find the city of Lincoln and market town of Louth to be useful hubs – and both have hospitals.
Horncastle is another popular spot, thanks to its farmers’ market and independent shops. It’s possible to find a two-bedroom terrace for around £160,000 or a bungalow for £250,000 in these places. For rural appeal look at Donington on Bain and Woodhall Spa; or for seaside charm there’s Anderby Creek with its long sandy beaches.
North Norfolk
Trendy Burnham Market is full of tempting tea rooms and bric-a-brac shops
It’s no surprise that this area is popular with downsizers; it is free of busy roads and offers a slow-living pace. In fact, 28 per cent of those moving here in 2022 were over 60, drawn by the area’s natural beauty, from pretty villages to sand dune-backed beaches such as Holkham.
Trendy Burnham Market and the Georgian market town of Holt are full of tempting tea rooms and bric-a-brac shops, while resorts such as Cromer and Sheringham offer beach huts for lease. Birdwatchers and boaters are drawn to the Norfolk Broads.
The average property price is £307,780, but you can find two-bedroom detached bungalows from £160,000. Hassle-free and eco-friendly new builds are being snapped up by downsizers, according to Spencer Cushing of the agent Sowerbys. ‘The Four Miles development has been especially popular with downsizers because it’s in the peaceful village of Docking, which has a shop and GP surgery – two key requirements,’ he says. Two-bedroom homes there cost from £495,000.
Isle of Wight
Shanklin Old Village contains some of the oldest dwellings on the island
With its balmy microclimate and low-gear vibe, the island remains a magnet for retirees – over the past decade its population of over-65s has increased by a quarter, according to the ONS. The biggest age cohort is between 70 and 74.
It has a lot to suit retirees, says Robbie Lane from isleofwightguru.co.uk. ‘There are hundreds of miles of footpaths, plenty of dog-friendly beaches and lots for the grandchildren to do when visiting,’ he adds.
‘But beware, the ferry can be expensive in summer – it is usually £100 to £200 in peak season but can reach nearly £300.’ Mr Lane says buses cover all the main towns and villages, but warns that public services are stretched. ‘Some outpatient appointments require an inconvenient trip to Southampton or Portsmouth,’ he adds.
Seaside villages can become very quiet in winter, but the larger town of Newport remains lively – it is a transport hub and has a hospital.
Downsizers who plan to visit the mainland regularly may prefer Ryde, with a 22-minute catamaran foot passenger service to Portsmouth. Property prices average at £282,870, but you can find a bungalow or terraced cottage around Ryde for £150,000.
Fylde and Wyre, both Lancashire
St Michael’s on Wyre in Lancashire, where the average property price is £189,000
These districts sandwich Blackpool on the north-west coast of Lancashire. Both have the Forest of Bowland area of outstanding natural beauty on their doorstep – an undeveloped playground of undulating hills, forests and quaint villages.
Retirees might choose small towns or villages with good access to Preston, Lancaster or Blackpool for amenities (keen older footballers can join the Blackpool Senior Seasiders – a walking football club with over-60s and over-70s teams).
Fylde boasts Lytham St Annes, with its famous Royal golf course and sandy beach. Property prices in Fylde average at £234,640. In Lytham St Annes you can find well-presented detached bungalows for £350,000, or for £327,500 a two-bedroom flat at The Sidings retirement development, with its gardening group, book club and takeaway nights.
Your money will go further in Wyre district, with an average property price of £189,000. Many choose the pretty market town of Poulton-le-Fylde, which has a good community feel and transport links – three-bedroom bungalows here are available for upwards of £300,000.
Arundel, West Sussex
Arundel is full of Georgian listed buildings, great restaurants and even has a medieval castle
This area surrounds the pretty market town of Arundel, which is a hot spot for downsizers with around £1.5 million, says Michelle Hendrie of the buying agent Property Acquisitions. ‘Arundel is full of Georgian listed buildings, great restaurants and practicalities like GP surgeries,’ she adds. Arun also offers coast (Littlehampton and Bognor Regis) and countryside (South Downs National Park).
Meanwhile, George Price of Michael Jones & Co suggests Rustington, roughly midway between Chichester and Brighton. ‘With a great high street – Waitrose, banks, GP surgeries and lots of free parking – it ticks all the boxes,’ he says. ‘Detached two-bedroom bungalows in the private roads south of the village are priced around £650,000.’
For an energy-efficient new build, Ryebank Gate, a new Barratt David Wilson development, offers two-bedroom homes from £299,995.
Tendring, Essex
Colourful cottages between Manningtree and Mistley, which are on the Tendring Peninsula
Pretty villages and award-winning sandy beaches within easy reach of Colchester are a reason to seek out the Tendring Peninsula in north-east Essex.
It’s billed as the ‘Sunshine Coast’ with resorts such as Frinton, Brightlingsea and Dovercourt Bay enjoying some of the warmest temperatures in the UK – as well as Blue Flag beaches. The average property in this area is a modest £266,540 and that will get you a semi-detached bungalow in Kirby, a mile inland of Frinton and Walton.
Your money goes further outside the commuter belt, says Karl Manning of Savills. ‘Thorpe-le-Soken is just one of the lovely traditional villages, Frinton is upmarket seaside and Holland-on-Sea also pleasant.’ You’ll find a wide choice of modest or high-spec bungalows with a budget of £400,000.
Torridge, north Devon
Torridge has access to good healthcare facilities, including GP practices
Rolling countryside, coastal cliffs and serene river valleys – this area is perfect for retirees, says Nick Cunningham of Stacks Property Search.
‘It’s one of the most affordable parts of Devon because it’s less accessible and lacks the cachet of parts of Cornwall and South Devon.’ So that means an average price of £294,850 – or £360,000 for a four-bedroom character home with valley views in the thriving market town of Great Torrington (through Webbers).
Cunningham adds that Holsworthy, Bideford and Northam are also popular, the latter close to Westward Ho!, one of the region’s best beaches. There is also the fishing village of Appledore, or the picturesque Clovelly. ‘
Torridge has access to good healthcare facilities, including GP practices and community hospitals,’ he says.
Rother, East Sussex
The coastal town of Winchelsea has good mainline links to London
This area is at the top of many downsizers’ lists, thanks to National Trust properties galore, good mainline links to London and coastal delights at Rye, Hastings, Bexhill and Winchelsea.
‘Devoid of motorways and overly large towns, it’s just a gentler pace of life where you don’t have to live cheek by jowl,’ says Gary Marples of Strutt & Parker.
It’s an easy drive to Gatwick and Dover for holidays, and has excellent hospitals such as Conquest in Hastings, says Carl Underhill at Batcheller Monkhouse. Hotspots are Ticehurst, Battle, Robertsbridge and Sedlescombe, while in Rushlake Green you can get an end-of-terrace two-bedroom cottage for £450,000.
West Devon
A Grade II-listed thatched granite cottage in North Bovey, Dartmoor
This thinly populated area, which includes the valleys and ancient woodlands of Dartmoor, is relatively good value, says Ed Jephson of Stacks Property Search.
‘There are major hospitals in Plymouth, medical centres in Tavistock – a market town with a thriving high street – and Okehampton (with a Waitrose), whilst Moretonhampstead is an understated rural town with good independent shops.’
Exceptional villages include Mary Tavy, Drewsteignton or Hatherleigh, he adds. A three-bedroom bungalow in the former costs around £550,000.
New Forest
Areas around Lymington offer life near the sea
Lush open moors, easy access to the sea and the amenities of Southampton – the New Forest is hard to beat.
There’s an average property price of £388,810, but that buys a lot of space for those moving out of London, also offering life near the sea (around Lymington), by the Beaulieu River, or deeper into the forest (such as at Brockenhurst).
You can find detached bungalows in the market town of New Milton for around £500,000.
Dorset
Many buyers holiday in places like Mudeford and fall in love with the area
Easy access to the New Forest is part of the draw for next-door Dorset. Here, the Christchurch, Mudeford and Highcliffe areas are a bungalow hunter’s dream. Many buyers holiday there with families and fall in love with the area, says Mike Watters of Winkworth.
‘Highcliffe has a range of homes for retirees, from bungalow estates to good-size apartment blocks, all within easy access of the high street amenities, including GP, pharmacy and over 40 leisure clubs,’ he adds. Find bungalows from around £350,000 – the average property price for Dorset.
Neighbours gave us a lovely welcome
Glyn and Heather Coates fell in love with Dorset on several summer holidays and decided to retire there in 2022.
They are selling their five-bedroom home in Devizes, Wiltshire, for a four-bedroom chalet bungalow with a large garden to host their two grown-up children and three teenage grandchildren in the pretty coastal village of Mudeford.
‘As foodies, we love the restaurants here – in Barton-on-Sea and Chewton Glen for something classy – and we have all the practicalities nearby, in Christchurch or Southampton,’ says Glyn, 73, who used to run a modular building company while Heather, 69, previously worked in travel.
‘We found a bungalow 90 seconds from the water’s edge. The neighbours gave us a lovely welcome party – we have quickly got to know more people than we did in Devises.’
Glyn and Heather Coates liked spending time in Dorset on several summer holidays and decided to retire there in 2022
What your downsizing funds could buy you in…
North Norfolk: One-bedroom end-of terrace cottage in Titchwell, overlooks nature reserve and has a south facing garden.
Guide price, £450,000-£500,000, Sowerbys estate agents (sowerbys.com).
This one-bedroom end-of terrace cottage in Titchwell overlooks nature reserve
Dorset: Grade II-listed two-bedroom thatched cottage in Shaftesbury, with exposed beams and window seats. Close to high street plus nearby health centre.
Guide price, £400,000, Strutt & Parker.
This two-bedroom thatched cottage in Shaftsebury has exposed beams
Hampshire: Three-bedroom waterside property on Hayling Island, overlooks Chichester Harbour.
Plenty of space for outside entertaining and sunbathing. Guide price, £975,000. Strutt & Parker (struttandparker.com).
This three-bedroom waterside property on Hayling Island, overlooks Chichester Harbour
…and the remaining eight
Breckland, East of England
Average house price: £272,800 Average flat price: £114,260
Conwy, Wales
House: £215,880 Flat: £128,240
King’s Lynn and West Norfolk
House: £267,180 Flat: £126,390
East Devon, South West
House: £352,310 Flat: £199,100
East Suffolk, East of England
House: £294,020 Flat: £154,910
Isle of Anglesey, Wales
House: £236,160 Flat: £146,010
Great Yarmouth, East of England
House: £212,854 Flat: £103,430
Herefordshire, West Midlands
House: £295,840 Flat: £134,720