LONDON, Dec. 31, 2015 /PRNewswire/ -- AMA Research have published the 3rd edition of the 'Care Homes Construction Market Report – UK 2015-2019 Analysis'. This report should be of particular interest to care providers in the private and local authority sectors and construction/service companies involved in the long-term care sector.
Key issues covered:
Structure and size of both the independent and voluntary sectors.
Construction output and RMI in the healthcare and care homes sectors, with forecasts to 2019.
Analysis of supply and demand in the care sector against a backdrop of an ageing population.
Sources of funding and investment in the independent and voluntary care sectors.
Development pipeline - key building programmes and major players.
Key areas of insight include:
Review of private, public/voluntary provision – mix shares, values, trends in last decade, future prospects up to 2019.
Implications of bedspace shortages and funding of long-term care.
Analysis of long-term care homes development pipeline.
Detailed analysis of the development opportunities available to develop residential care property and the building programmes and expansion plans of leading independent and voluntary sector providers.
Review of key contractors / clients/ development programmes.
Some of the companies included:
Allenbuild, BAM, Bardsley Construction, Bouygues, Building Construction Partnership (BCP), Care UK, Castlemead, Castleoak, Galliford Try, Greswolde, Keepmoat, Leadbitter, LNT Construction, Morgan Ashurst, Stepnell, Wates, Willmott Dixon.
Key areas covered in the report include:
THE LONG-TERM CARE SECTOR IN THE UK
Sector value and market overview - sector size and structure – number of homes, residents, bedspaces 2004-2014, – split by provider (private, voluntary, LA, NHS) 1998-2015.Funding for the long-term care sector - plans for adult social care funding reform under the Care Act – impact of delays.Supply and demand in the care sector – regional provision of care homes beds and homes 2014/15, drivers of demand, population age profile up to 2080, future demand for care home places 2015-2020, size of new developments.'Extra-care' housing sector – number of developments by region, scale of sector, £300m funding, key players etc.Independent long-term care sector – sector size & value 2009-2019, leading 20 independent care providers – market shares, profiles, development plans etc, changes in market structure.Local Authority/Voluntary care sector – sector size & value 2009-2019, leading 20 voluntary care providers – Housing Assocs, Voluntary – shares of leading providers.
CONSTRUCTION MARKET OVERVIEW
Value of output – construction new work - construction output in 2012 and beyond.Construction output in the healthcare sector and forecasts for output 2015-19.RMI in the healthcare & care homes sector – 2009-2019 by value. Age profile of care homes.BUILDING PROGRAMMES AND INVESTMENT IN THE CARE HOMES SECTOR
Private healthcare investment – principal private care home funds – key operations, fund values etc.
Funding & ownership models in the care homes sector.
Mergers & acquisitions in the private long-term care sector – key recent changes.
Care home development pipeline – care home size and facilities, care homes planning applications by region (H1 2015), average sizes (2004-14).
Building programmes & expansion plans of leading care providers – key players in sector, key factors driving development programmes (land availability, demand, design standards etc).
CONSTRUCTION SUPPLY IN THE CARE HOMES SECTOR
Key construction companies and developers in the long-term care sector.
Contractor/Developer Profiles – Bouygues, Building Construction Partnership, Castlemead, Castleoak, Galliford Try, Keepmoat, Leadbitter, LNT, Stepnell, Thomas Vale, Wates, Willmott Dixon etc – key clients, development programmes, capabilities etc.The availability of good quality, purpose built care homes continues to outstrip supply, creating unprecedented levels of demand for new facilities. This factor, together with underlying demographics and major funding issues, is driving activity in the new-build care home sector with growth focused specifically in the 'for profit' sector. Care home capacity has increased over the last 5 years and total care home sector revenue has increased by an estimated 4.3% in 2014. There are now almost 20,000 care homes, nursing homes and residential homes providing adult and elderly care throughout the UK, of which the majority are operated by the independent sector or voluntary organisations, with the remainder NHS or local authority operated.
The private care home market in the UK is highly fragmented with several key players, but a large number of small providers - 80% of providers own just one care home. There has been a significant drop in the number of available places in local authority residential care homes, with government austerity measures impacting local authority budgets, combined with the economic climate contributing to difficulties currently experienced in the UK's care home sector. The introduction of the new Living Wage legislation is also expected to further challenge the local authority care home sector as operational costs increase.
In England and Wales, demand for care home operators to build new facilities is still strong with many new care home registered during 2014. Nearly all new care home development currently taking place is targeted at private payers in affluent areas of the country such as the Southeast. As a result, care home investors and developers are now seeking sites and homes in these strong regional locations, although the rest of the UK is also seeing a growth in new build care homes. However, the competition for land, particularly from the residential development market is reducing the number of readily available opportunities, especially in the Southeast.
Despite considerable investment in new and refurbished capacity within the independent sector during the last 20 years, a considerable amount of existing care home stock is still classed as sub-standard. Further substantial investment in capacity will be required going forward as demand for care homes continues to rise in line with estimated rises in the elderly population and those with conditions requiring specialist care such as dementia. Demand for care home places is also expected to rise steadily over the next 5-10 years. It is estimated that at least an extra 6,700 net new places will be needed each year to 2020 to satisfy demand in both the public and private care home sectors.
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