PRESS RELEASE BY MBD...

UK RESIDENTIAL CARE FOR THE ELDERLY MARKET RESEARCH REPORT

RELEASED: FEBRUARY 2008

After researching the UK residential care for the elderly market development and taking into account various other factors the following conclusions can be drawn from MBD's report:

MARKET REVIEW 2003-2007:

The value of the UK residential accommodation market for the elderly is believed to have demonstrated growth throughout the review period, with annual levels fluctuating between 2% and 4%. In 2007, a 4% increase took demand for residential accommodation to an estimated £9.76 billion. Stronger growth compared with the previous year reflects a continuing ageing population and increasing numbers of self-funded residents in the private sector, reflecting changes in Government funding. Indeed, such changes are believed to have driven demand in the private sector at the expense of local authority accommodation. Overall, the residential accommodation market for the elderly is estimated to have increased by a cumulative 14% between 2003 and 2007. Despite market growth, MBD believe the development of the residential accommodation market has been restricted by the Government’s policy to encourage the elderly to remain in their homes for longer periods, as demonstrated by the trend towards the provision of increased home care and extra care services.

MARKET FORECAST 2008-2012:

The number of UK residential care home places is expected to continue to decline at modest levels during the first two years under review. However, places in residential care homes are projected to increase during each year between 2010 and 2010, reaching 271 600 in the latter year. This represents an overall cumulative increase of a moderate 2% compared with the number of places in 2007. Growth is largely attributable to demographic trends towards an ageing population. Nonetheless, the residential care market is anticipated to be constrained by Government initiatives to promote independent living.

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