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Care Bed Supply Not Growing Fast Enough

Healthcare property specialist, Knight Frank has reported that the supply of beds in the UK care market fell for the first time by 177 last year and expects a shortfall of more than 200,000 by 2050.

Last year saw a 15% dip in the number of new homes completed, although approximately 10,000 beds were granted via planning applications. Completion of these schemes will add to the 480,578 existing bed supply and 11,907 homes.

While bed supply has risen 2.7% over the last decade, the over-65 population has grown by 19% over the same period. Knight Frank said, “The UK elderly care market is at risk of reaching capacity by the end of the decade, and this is a worrying projection. Not only must we build more care homes, but we must take action to support standing stock to reduce the level of home closures.

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