What makes a good retirement location?
As our priorities and preferences change, many of us will move to a new location or a new home, with some of us even doing so several times during our lives. However, one of the most important decisions we’ll make when it comes to relocating is deciding where we want to spend our retirement.
We asked Brits aged 50 and over what makes the perfect retirement location, revealing the most important factors when choosing the ideal place to settle down to life after work.
A safe neighbourhood is the number one factor when deciding where to retire
Our results show that a safe neighbourhood is the most important factor when deciding where to retire for those aged 50 and over (29%), followed by closeness to family and friends (28%) and being near local amenities (25%). Among those who are already retired, being near local amenities is the most important consideration (33%).
Other factors that proved important to our respondents are the cost of living (24%) and access to healthcare (18%).
Warm weather is revealed to be the least important factor when it comes to deciding where to retire, with just 3% saying this is important. This is followed by air quality (5%) and proximity to the next largest town (5%).
Coast or countryside?
Many of us will associate peaceful surroundings with retirement, and being close to the beach or countryside is the ideal scenario. For our respondents, being close to the sea (17%) is better than being close to the countryside (13%) with peacefulness (17%) and beauty (16%) also high up on the list of considerations.
Interestingly, women are more likely to consider living by the sea (18% of women compared to 15% of men), while men are more likely to prefer a retirement in the countryside (17% of men compared to 10% of women).
Where do people from different cities want to retire to?
While proximity to family and friends and a safe neighbourhood come out on top as the factors Brits aged 50 and over want in a retirement location, the cost of living is the most important for those in Leeds (28%) and Southampton (34%).
Meanwhile, being close to local amenities is the most important factor for those aged 50 and over in Sheffield (31%). And it ties with a safe neighbourhood for those in Glasgow (32%).
| City | Most important factor | % of respondents who agree |
|---|---|---|
| Belfast | Proximity to family and friends | 37% |
| Birmingham | Proximity to family and friends | 26% |
| Brighton | A safe neighbourhood | 32% |
| Bristol | Proximity to family and friends | 34% |
| Cardiff | A safe neighbourhood | 33% |
| Edinburgh | A safe neighbourhood | 37% |
| Glasgow | A safe neighbourhood and proximity to local amenities e.g shops, restaurants, bars | 32% |
| Leeds | Cost of living | 28% |
| Liverpool | A safe neighbourhood | 41% |
| London | Proximity to family and friends | 27% |
| Manchester | Proximity to family and friends | 35% |
| Newcastle | A safe neighbourhood | 39% |
| Norwich | Proximity to family and friends | 33% |
| Nottingham | A safe neighbourhood | 32% |
| Plymouth | A safe neighbourhood | 32% |
| Sheffield | Proximity to local amenities e.g shops, restaurants, bars | 31% |
| Southampton | Cost of living | 34% |
Brought to you by the life insurance experts at Comparethemarket
Methodology
The survey data collected in this study was based on 1,508 single UK residents aged 50 and over, which took place in May 2022.