UK’s best places to retire ranked as almost 50 per cent of Britons plan to stay local

New research from David Wilson Homes reveals that close to half of British people intend to stay in their local area when they stop working, with 49 per cent of those surveyed planning to remain in their current town or city.

Steve Mariner, Sales and Marketing Director at David Wilson Homes, said: “Our research shows that retirement decisions are rarely about moving across the country. Most people want to stay near familiar surroundings, friends and family, so the best place to retire is relative.”

Argyll and Bute in Scotland topped the overall rankings with an impressive score of 98, boasting the highest life satisfaction rating of 7.75 and exceptional healthcare access with 32 GP surgeries per 100,000 patients, alongside average property prices of £182,857.

In the North West, Warrington achieved a strong score of 66, with homes averaging £253,744 and 12 GP practices per 100,000 residents.

Cheltenham emerged as the South West’s leading location, scoring 67 with average house prices of £323,378 and nine GP surgeries per 100,000 patients.

Milton Keynes led the South East with a score of 65 and a life satisfaction rating of 7.51, while Derbyshire Dales topped the East Midlands at 63 with the highest regional life satisfaction score of 7.68.

Staffordshire Moorlands stood out in the West Midlands for its affordable housing at £215,635. Hartlepool in the North East offered the most budget-friendly option with average property prices of just £140,180, though its overall score reached 55.

Tower Hamlets in Greater London faced challenges, scoring only 48 despite reasonable life satisfaction at 7.32, with elevated house prices averaging £479,284 and limited green spaces.

North Yorkshire achieved a score of 56 with property prices of £272,463, while the Vale of Glamorgan led Wales with a score of 61 and homes averaging £290,152. South Cambridgeshire topped the East of England with a score of 61.

According to the index, full list of top-ranked areas for retirees in each region are:

• South West England – Cheltenham: Average house price £323,378, life satisfaction score 7.41, 9 GP practices per 100,000 patients, 5 green spaces per 10,000 residents, overall score 67
• South East England – Milton Keynes: Average house price £342,471, life satisfaction score 7.51, 7 GP practices per 100,000 patients, 5 green spaces, overall score 65
• Greater London – Tower Hamlets: Average house price £479,284, life satisfaction score 7.32, 8 GP practices per 100,000 patients, 4 green spaces, overall score 48
• East of England – South Cambridgeshire: Average house price £432,540, life satisfaction score 7.41, 8 GP practices per 100,000 patients, 5 green spaces, overall score 61
• West Midlands – Staffordshire Moorlands: Average house price £215,635, life satisfaction score 7.45, 14 GP practices per 100,000 patients, 3 green spaces, overall score 61
• East Midlands – Derbyshire Dales: Average house price £331,441, life satisfaction score 7.68, 14 GP practices per 100,000 patients, 3 green spaces, overall score 63
• North West England – Warrington: Average house price £253,744, life satisfaction score 7.45, 12 GP practices per 100,000 patients, 4 green spaces, overall score 66
• North East England – Hartlepool: Average house price £140,180, life satisfaction score 7.29, 11 GP practices per 100,000 patients, 3 green spaces, overall score 55
• Yorkshire and the Humber – North Yorkshire: Average house price £272,463, life satisfaction score 7.49, 11 GP practices per 100,000 patients, 3 green spaces, overall score 56
• Wales – Vale of Glamorgan: Average house price £290,152, life satisfaction score 7.5, 9 GP practices per 100,000 patients, 4 green spaces, overall score 61
• Scotland – Argyll and Bute: Average house price £182,857, life satisfaction score 7.75, 32 GP practices per 100,000 patients, 3 green spaces, overall score 98

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Mr Mariner said: “Every region has something to offer, which is why the Regional Retirement Index looks at multiple factors to create its ranking score. While some areas provide more readily available access to healthcare, others offer ample opportunities to enjoy serene greenspaces, highlighting the nuances of choosing where to settle.”

Beyond choosing a location, financial planning remains crucial for those approaching retirement.

The research uncovered a significant gap in awareness about mortgage options, with 86 per cent of homeowners aged over 45 not knowing about Retirement-Interest-Only mortgages, a product specifically created to assist older borrowers with housing costs.

Terry Higgins, mortgage expert at The New Homes Group, said: “A retirement interest-only (RIO) mortgage is designed for older borrowers, typically aged 55+ (with some lenders accepting 50+), who may find that a standard mortgage does not meet their needs.

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“As securing a traditional mortgage can become more difficult later in life, a RIO mortgage provides an alternative, either to borrow against your home in retirement or as an alternative to equity release.

“Like a standard interest-only mortgage, a RIO has two parts: the capital (the loan itself) and the interest. With this type of mortgage, your monthly repayments only cover the interest on the amount borrowed.

“The capital is usually repaid when the property is sold, when the owner enters long‑term care, or when the owner’s estate is settled.”