Rightmove estimates that downsizing accounts for one in four property sales for people aged between 55 and 64 years old. The need to sell large family homes and move into smaller accommodation has become more acute recently with a number of factors putting pressure on baby boomers’ finances.

Indeed concerns over inheritance tax, pension shakes ups, contributions to retirement care and even a possible future bedroom tax on private homes is taking its toll. Not to mention children up to their eyeballs in debt with slim chance of getting onto the property ladder without the “Bank of Mum & Dad”, are making more and more empty nesters consider freeing up capital by downsizing.

And aside from the financial burden of owning and running a large family home there are also the physical practicalities. Keeping on top of the dusting in empty bedrooms, heating unused rooms and maintaining a garden big enough for the trampoline and climbing frame was hard enough at 40 let alone 60 years old!

So with all these factors to consider there are plenty of upsides to downsizing but how do you find the right property?

Well the recent opening of six luxury homes located in the heart of Surrey has proved particularly popular with downsizers. 50% of these wonderful detached homes from Millgate, an award-winning developer specializing in creating country mansions, sold to downsizers – all couple’s in their early 60’s – within three weeks of the Show Home opening.

All the couples moving to Regency Place in Walton-on-the-Hill had been looking for the perfect smaller home for a considerable time; in fact two started their search home a decade ago! 

Jonathan Cranley, Sales and Marketing Director for Millgate comments on the latest flurry of downsizer activity in Surrey,

“To have a 50% sales success in under a month is a terrific achievement for the team. Even in a difficult economic climate it reminds me that the fundamentals remain true – it’s all about the right property, in the right location, at the right price. We build homes not just houses; with our clients’ needs in mind. These new homes at Regency Place offer space and light as well as all conveniences for modern living; they are well located near the popular village of Walton-on-the-Hill yet the interior and indeed exterior are not too large to manage comfortably.”

Comprising an extensive kitchen, spacious family room and orangery, 5 bedrooms, 3 with en-suites plus a family bathroom and double garage, homes at Regency Place are available from £1,675,000. For more information contact Millgate on 0118 934 3344.