According to research from Saga Home Insurance, almost a third of retirees move to a different area once they have stopped working .
The reality is in contrast with people’s expectations as only eight per cent of those reaching retirement age revealed that they are definitely planning to move .
With soaring living costs, Saga suggests that many people do not have sufficient funds to cover a secure and comfortable retirement. The study also found that the main features that retirees look for when they are finding a new home are a friendly neighbourhood, peace and quiet and good shopping facilities.
Andrew Goodsell, chief executive of Saga, said: “Retirement should be an opportunity for people to enjoy pursuits that they have dreamt of throughout their working life. It is a worrying trend that these aspirations of a settled retirement are being ruined by the need to downsize.”