Families are facing challenges in selling inherited retirement properties, as revealed by some individuals sharing their stories. One man, for instance, has reduced the price of his late mother’s retirement flat by £55,000 but has still not been able to find a buyer. This has led to him having to cover hefty annual fees while the property remains vacant.

Joan Taylor purchased a flat in Burgess Hill, West Sussex, for £225,000 in 2015, with a lease lasting 125 years. The complex where the flat is situated is exclusive to individuals aged 70 and above, thereby limiting the pool of potential buyers.

After Joan passed away at 96 in June 2024, her son Gordon Taylor lowered the asking price to £170,000 but is experiencing difficulties in selling the property. The ongoing expenses he is responsible for include an annual service charge of £9,700, ground rent of £435, and council tax of £1,044.

In a similar situation, another individual mentioned a £200,000 reduction in the asking price of their late mother’s flat without receiving any offers. An expert speculated that there could be around 10,000 unoccupied properties in privately owned retirement blocks across England and Wales, contrasting with the Retirement Housing Group’s claim that 95% of retirement properties are currently occupied.

In other property news, the average UK house price has surpassed £300,000 for the first time, rising by 0.7% monthly, according to Halifax. On an annual basis, property values increased by 1.0% in January, reaching an average price of £300,077.

Amanda Bryden, the head of mortgages at Halifax, noted the market’s stability at the beginning of 2026, with prices rebounding in January. Annual growth also rose to 1.0%, pushing the average UK home price above £300,000.

Karen Noye, a mortgage expert at wealth manager Quilter, expressed concern over affordability challenges for first-time buyers as the housing market continues to evolve.