A cottage in the Cotswolds or a sea-view property on the south coast may be on your wishlist of dream retirement spots.
But the town that will make you the happiest as you enjoy your golden years is a far cry from these, new research reveals.
In fact, the happiest place to retire is the landlocked commuter area Chesham and Amersham in Buckinghamshire.
This is according to pension provider Legal & General (L&G), which has ranked all regions across a range of factors to pinpoint Britain’s retirement wellbeing hotspots.
It’s not just beautiful scenery that makes a happy pensioner, so L&G gave all areas in Britain (political constituencies) a score out of 100 in six key pillars to measure the quality of later life.
Noticeably absent from the top 20 are North Norfolk and Bournemouth, Dorset – both popular with retirees.
Bournemouth East is missing from the top locations in each metric, except for housing where it ranks third.
The spot has a swathe of senior and retirement living options which boosts it up the rankings.
But it’s missing from the league tables for the other pillars – its well-loved beach is not enough to make it into the top 20 places for nature.
Other retirement favourites including Tunbridge Wells in Kent, Tendring in Essex and Brighton in East Sussex are also missing from the rankings.
So where should you be moving for retirement that will benefit your social life and your bank account?
What makes a happy location?
While proximity to a national park or a healthy pension income make for happy retirees, they’re not the only factors worth considering.
To live a happy, well-rounded life in retirement, your location must score well across six metrics – housing, health, community, financial, nature and amenities.
Lorna Shah, a managing director at L&G, says: ‘This gives us a more complete picture of what shapes a happy later life.
It’s not just about one factor – it’s the combination of health, social connections, environment and financial security that all play a part in retirement wellbeing.’
This method gives a more holistic view of retirement, the pension provider says.
For housing, L&G looked at access to residential care homes and availability of senior housing, while health takes into account the proportion of over-65s in good health, access to a doctor’s surgery and NHS waiting times.
Social and community measures the proportion of residents aged 65 and over, life satisfaction levels and distances to the nearest station.
For the financial category, average pension income, housing affordability and the cost of living are all analysed.
Nature includes air quality and outdoor space, while the final pillar – amenities – looks at the access to supermarkets, banks, libraries, theatres and much more.
Commuter belt best for retirees
Landlocked commuter belt towns around London were the surprise winners when all these factors were taken into account.
Chesham and Amersham in Buckinghamshire ranks the highest for retirement wellbeing with a score of 74 out of 100.
The two market towns are consistently strong across the metrics measured but score particularly well in the health and financial categories.
Simon Hadland, founder of Hadlands estate agents, believes the area is perfect for those in their early retirement who want to be really active.
He says: ‘Amersham is on the London Underground. It’s great if pensioners love to dip in and out of London but also want to live near the rolling Chiltern Hills. It’s without the hustle and bustle of London.’
Mr Hadland says there are retirement homes in the area for those who prefer community living but, outside this, the housing stock is mainly made up of 1930s semi-detached homes.
While the area scores highly across all six pillars, homes do not come cheap – no surprise for an in-demand hotspot close to the capital.
In Amersham, homes are sold for £766,025 on average, according to property portal Rightmove, while in Chesham it is a more reasonable £496,898.
Ratings: To live a happy, well-rounded life in retirement, your location must score well across six metrics – housing, health, community, financial, nature and amenities
Beaconsfield, another Buckinghamshire town, takes second place on hotspots for retirement happiness as it scores 72 out of 100 in the index. It also scores strongly in the health and financial pillars.
Angela Robinson, of Ashington Page estate agents, says: ‘There’s a lot of really nice apartments in Beaconsfield.
‘People want to sell their huge houses and have a nice standard of living. Pensioners can walk to the restaurants and shops – it has a London vibe about it – and there’s a low crime rate.’
Beaconsfield is just a 23-minute train journey from London’s Marylebone station.
The South-East dominates these retirement happiness spots, with the towns in third and fourth place also close to London.
After Beaconsfield, it’s Dorking and Horley – the Surrey area – that is the happiest place for those in retirement, with a score of 71.
It scores particularly well in the social and community pillar. Then it’s Godalming and Ash, also in Surrey, with the same 71 score and Mid Sussex – which includes part of the South Downs and Haywards Heath – with a score of 70.
In Scotland, the happiest spots for pensioners are Mid Dunbartonshire, Stirling and Strathallan, and East Renfrewshire with respective scores of 55, 52 and 51.
Monmouthshire comes top in Wales with a score of 53.
Sheffield best for bank account
Sheffield Hallam ranks best for financial matters for retirees, L&G reveals. It’s known as one of the more affluent areas of South Yorkshire, so it’s no surprise it tops the list.
But a study by L&G found that the happiest retirees don’t always have the highest incomes – the most content pensioners have an average monthly income of £1,700.
Sheffield is seen as an incredibly affordable place to live and homes sell for £260,441 on average, says property website Rightmove.
In second spot is Scottish area West Aberdeenshire and Kincardine. Homes sell for just £166,657 in Kincardine.
Tatton in Cheshire takes the third spot. While these may not be the cheapest places to live or have the highest incomes, they are the best places for your finances overall.
Fylde in Lancashire, which is near the seaside, scores best in the community category as it’s a popular destination.
For nature, Castle Point in Essex – home to sprawling green spaces and generally clean air – is top of the league across the nation.
Bristol Central takes the gold medal in the housing pillar.
For amenities, the constituency the Cities of London and Westminster is the best with its proximity to the capital’s swathes of shops, banks and restaurants.
L.evans@dailymail.co.uk
