It is well documented that we have an aging population in the UK and this is increasing the number for care and nursing home places required. Nursing and care home bed demand is also being affected by a number of other factors such as an increasing number of dementia patients. Local authorities are facing tough times and economic cuts and are unlikely to have funds to provide additional accommodation for these vulnerable patients. This under supply highlights an opportunity the private sector through care home investment, an alternative to traditional UK buy to let property investment.
Provisional figures from the Health and Social Care Information Centre (HSCIC) show 344,000 patients had a recorded diagnosis of dementia in 2013-14. This is a rise from 319,000 in 2012-13 and from 213,000 in 2006-07, when the data was first collected. This equates to Number of patients with recorded diagnosis of dementia increasing by 62 per cent over seven years.
Not all care and nursing homes wish or are able to take dementia care patients, these individuals require specialist care, staff and facilities. A common newspaper headline is the hospital bed shortages being caused by patients awaiting care home places to become available. A similar situation can occur when care homes become unable to care for a resident who has developed dementia. With limited places in homes that can accommodate dementia patients, similar bed blocking situations can occur. With this shortage identified the private sector is also building care homes that offer or specialise in dementia care. Care Home investment in homes that specialise in dementia care is also possible
A recent article in the Daily Mail reported the results of a survey that highlighted ” One in three Britons would refuse to take in an elderly parent ” The Office of National Statistics ( ONS ) has recently announced “ by 2030 the number of people aged over 85 will have doubled ” in the UK. Evidence of an aging population and increased levels of dementia are indications of a strong and continuing demand for care home places. Care home investment may be therefore, worthy of investigation for those seeking high yielding property investments in the UK. The type of home, location and care home operator are important points to research as are the facilities offered and the other homes available in the area
Categories: Care Homes