Cornwall is downsizing hotspot

Mortgages and Bills

Anna Jordan
Updated on 17 November 2014 | 0 Comments

Around 2.5 million people are looking to move to a smaller home when they retire, with the south of England dominating the downsizing destinations.

Cornwall, Arun district in West Sussex and North Somerset are the most popular areas people relocate to when they retire, says new research.

And around 2.5 million people are looking to downsize when they retire, according to the latest Prudential Downsizing Index.

The top reason for wanting to downsize is that their current property simply has too much space (61%), while the convenience of running a smaller home is also a big factor (58%).

Retirement hotspots

Around a third of downsizers want to use the move to a smaller property to coincide with relocating to a different town or city within the UK.

Here are the top 10 retirement destination hotspots in England and Wales.

Local authority	Net gain of residents over 65
Cornwall, Isles of Scilly	603
Arun, West Sussex	366
North Somerset	333
Gwynedd	311
Eastbourne	280
Tendring	273
New Forest	264
Cheshire East	262
Conwy	256
Worthing/Wiltshire	247

And these are the places that older people are most likely to be leaving:

Local authority	Net loss of residents over 65
Birmingham	651
Brent	388
Bromley	361
Leeds	337
Ealing	332
Southwark	313
Harrow	302
Haringey	299
Newham	289

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