Retirement Homes in the UK - Industry Market Research Report

Retirement Homes in the UK - Industry Market Research Report

Retirement Homes in the UK

Local governments supply funding for spending on retirement home services, depending on a financial assessment of an individual's needs. Tightening government budgets have meant publicly-funded fees have failed to cover providers' operating costs, forcing operators to cross-subsidise local-authority beds with fees from self-funded residents. Rising disposable income levels in recent years have meant more people were able to pay private care home fees, supporting revenue. Tightened purse strings in the two years through 2023-24 have dampened some of this demand because of soaring inflation. Although the ageing population is supporting revenue, constrained government spending, combined with rising costs, particularly in relation to labour costs, have put pressure on profit

This industry provides residential and personal care for elderly and physically disabled people that are unable to care for themselves or do not want to live independently. Industry operators typically provide room, board, supervision and assistance with day-to-day tasks. The industry does not include residential homes with full-time nursing care (see IBISWorld report Q87.100) or residential care for individuals with mental disabilities (see IBISWorld report Q87.200).

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."