Housing adjustment in later life: evidence from the British Household Panel Study

Abstract

Using data from the first five waves of the British Household Panel Survey, we examine the extent and determinants of residential mobility for persons aged 55 years or older, plus the subsequent housing adjustments made by those who move. The dimensions of adjustment examined are house value and rental costs, the number of 'excess' rooms, and housing tenure. Residential mobility in later life is found to be relatively rare in Britain, and appears to respond primarily to household changes such as loss of spouse, retirement and the spouse leaving employment. However when a move is made, there is a tendency to change housing consumption in a direction consistent with the correction of a disequilibrium position.