Can’t afford to downsize

The Telegraph featured the story of an elderly couple living near Cambridge who wanted to downsize.

Their detached 4-bed home was in a village and was valued at £280,000, but they couldn’t find a suitable retirement property – ideally a flat with a small garden – for less than £350,000, and would have had costs of some £20,000 on top. This shortage of suitable property is preventing many older people from downsizing and freeing up family homes.