Merton, in the capital’s southwest, is the best area in the UK to be once working life is over for green spaces, as is Newcastle-under-Lyme in the West Midlands. But when it comes to purchasing a new home, the contrast in house prices between the capital and the rest of the UK is stark.
On average, buying a house in Newcastle-under-Lyme will set you back £180,000 according to Which?’s retirement study. However, this price rises to a hefty £560,000 when you want to buy a home in Merton.
The priorities of retirees were also assessed in the study, and according to 88% of the 1,192 respondents, healthcare is the most important aspect of life to consider when looking for a place to retire. Having green space was the second most important (75%), followed by being close to leisure activities (31%).
Head to Scotland for happiness when retiring
Scotland ranked highest for the happiest spot to be in the UK for retiring, with its healthcare scoring the highest on the consumer champion’s ratings out of 10, while the worst area in the UK for healthcare was Elmbridge in the southeast of England.
Jenny Ross, Which? money editor, said: “Whether you’ve always dreamed of escaping to the countryside or the seaside, the decision of where to retire can be just as important as the decision of when to retire – and our latest research has uncovered gems across the UK that would be great places for retirees to consider.
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“The sooner you can start financially preparing for retirement, the better. Check your state pension forecast and track down any lost pension pots to get a clearer picture of whether you’re on track. That way you’ll be prepared to make the move if you decide it’s for you.”