Families are facing challenges in selling vacant retirement properties inherited from elderly relatives. One individual reduced the price of his late mother’s retirement flat by £55,000 but has been unsuccessful in selling it, leading to ongoing financial burdens due to maintenance fees.

Joan Taylor purchased a flat in Burgess Hill, West Sussex, in 2015 for £225,000 with a 125-year lease that is restricted to individuals over 70 years old. Following Joan’s passing at 96 in June 2024, her son Gordon Taylor lowered the asking price to £170,000, yet the property remains unsold.

Despite the reduced price, Gordon is burdened with annual costs including a service charge of £9,700, ground rent of £435, and council tax of £1,044. Reflecting on the situation, he expressed disappointment that what his mother intended as an inheritance has now become a financial burden.

Another individual shared a similar experience, lowering the asking price of their late mother’s flat by £200,000 without receiving any offers. Reports suggest there may be around 10,000 unoccupied retirement properties in privately owned blocks across England and Wales, although the Retirement Housing Group (RHG) indicates that 95% of retirement properties are currently occupied.

In other property news, the average house price in the UK has exceeded £300,000 for the first time, with a monthly increase of 0.7%, as reported by Halifax. Additionally, property values rose by 1.0% annually in January, bringing the average price to £300,077.

Amanda Bryden, head of mortgages at Halifax, noted the steady growth in the housing market at the beginning of 2026, emphasizing the challenge of affordability for prospective buyers. Mortgage expert Karen Noye from wealth manager Quilter echoed concerns about affordability, particularly for first-time buyers, in light of the increasing property prices.