The number of people aged over 65 in England is set to increase by 3.5 million between 2023 and 2040, to 14.5 million, according to ONS population projections.

Jane Kennerley, of Savills in Salisbury, said many of these people will not fit the traditional profile of retirees wishing to downsize.

She said: “There is a new kind of downsizer at large in the housing market, one who is not only cash-rich, having amassed considerable property equity over the years, but is also energetic, modern, outward-looking and young at heart. In fact, the new downsizers’ property priorities are similar to those of affluent young professionals with dual incomes and no heavily dependent children.”

Savills’ statistics show that around a quarter of those buying a luxury new build in UK towns and cities are over 60 years old, eschewing the notion that most retirees look for a tranquil bungalow by the sea, or a peaceful country retreat. As well as designer kitchens, bathrooms and all the mod cons, they are looking for proximity to shops, bars, restaurants, theatres and galleries, with easy access to international airports.

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Jane said: “The new downsizer’s wish list still includes important factors like security and accessibility. However, the latter is now more likely to mean lift access to a chic, spacious apartment with plenty of entertaining space, while security is more about their aspirations to lock up and leave to travel the world.

“Like the majority of buyers in today’s market, energy is a key concern, too: the costs of lighting, heating and hot water within a new build are, on average, half those of second-hand properties in England and Wales.”

The residential development sales team at Savills Salisbury said the following properties tick all the boxes for downsizers:

  • Nicholas Court, a collection of four one-bedroom bungalows and two two-bedroom apartments tucked away off College Street on a private drive in the centre of Salisbury. The city centre is a pleasant walk away from the development, which is on the site of the former rope factory. Prices start at £205,000.
  • The Old Brewery, Pennyfarthing Street, a south-facing, two-bedroom mews-style barn within this prestigious development in the heart of the city. Guide price £350,000. Last chance to buy.
  • Howarth Park, a stylish retirement development for the over 55s with beautiful grounds and an on-site estate manager on Milford Hill, Salisbury. There is now just one off-plan opportunity to buy with a guide price of £650,000.
  • Chalk Meadows, Porton, a collection of six “upside down” homes with stunning interiors and a high specification. Prices from offers in excess of £800,000.