‘Meeting the Housing and Finance Challenges of an Ageing Society’
Held on Thursday, February 28, 2019
With support from Cass Business School
Les Mayhew (Cass Business School)
Sue Hayes (Aldermore)
Jeremy Porteus (Housing LIN)
David Sinclair (International Longevity Centre)
Rachael Docking (Centre for Ageing Better)
Everyone knows that the UK has a ‘housing crisis’, the result of a growing population and inadequate supply of new homes. Demographic analysis suggests that demand for accommodation could add the equivalent of two new towns, each with 100,000 houses and 250,000 people, every year for 25 years.
But a new CSFI report, by Professor Les Mayhew of Cass Business School, argues that simply building more is not enough. The type of home being built must be better aligned with demand, which is increasingly dictated by the needs of an ageing society.
By far the biggest increase in housing need will come from elderly couples or people living alone. Without suitable accommodation for them to ‘downsize’ into, they will continue to stay put in family homes. This, in turn, constricts opportunities for young families and first-time buyers.
Prof Mayhew shows how planning policy, tax incentives and help for first-time buyers often pull in different directions. He advocates a coherent set of policies that encourage downsizing by catering for ‘last-time’ buyers and sellers, through both incentives and house-building policy.
The report also covers ways to release wealth tied up in houses to enhance retirement income and cover care costs in old age. The financial services industry has a big role to play via innovative mortgages and insurance policies backed by home equity.
The findings will be presented by Prof Mayhew, with an introduction from Sue Hayes, Group Managing Director for Retail Finance at Aldermore Bank, which is co-sponsor of the report alongside Cass. Prof Mayhew, who is also Director of Mayhew Harper Associates, was previously a senior civil servant at the Department(s) of Health and Social Security and the Treasury (CSO), and a board member of the ONS. He is an Honorary Fellow of the Institute of Actuaries and a member of the Royal Economic Society.
Our panellists are:
Sue Hayes, responsible for managing and expanding Aldermore’s Mortgages and Savings businesses. She joined the bank last year from Barclays, where she was Managing Director of Premier and Community Segments and Savings. Before that she held senior roles in retail and commercial banking at Santander.
Jeremy Porteus, Chief Executive and Founder of Housing LIN (Learning and Improvement Network). Formerly National Lead for Housing at the Department of Health, he has written reports for the All Party Parliamentary Group on Housing and Care for Older People, and co-authored RIBA’s 2018 report: “Age Friendly Housing: Future design for older people”.
David Sinclair, Director, International Longevity Centre – UK. David has worked in policy and research on ageing and demographic change for 15 years. He is Chair of the London based charity, Open Age, and a member of three DWP Age Action Alliance Working Groups. Prior to joining the ILC-UK, David worked as Head of Policy at Help the Aged.
Dr Rachael Docking, Senior Programme Manager (Homes), Centre for Ageing Better. Rachael manages the ‘Safe and accessible homes’ programme, working with policymakers, housing providers and other agencies to support independent living in later life. She joined the charity in 2015 from the University of Greenwich, where she was a research fellow.
Doors open at 5.30pm and there will be refreshments before and after the formal part of the event. If you (or a colleague) can make it, please let us know by emailing email@example.com or by calling the CSFI on 020 7621 1056.