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Commenting on Theresa May's announcements regarding a cap on care costs, James Kingdom, Head of Research for JLL's Alternatives team, said: "Introducing a cap on care costs would be a welcome addition and one that should provide greater certainty to many households. High home ownership amongst over 65s and long-term house price growth mean that many people will still be outside the threshold for public pay care, which is moving from £23,250 to £100,000.
"Social care is clearly a complex and emotive issue, but growing demand is putting increased pressure on the system. Over 65s need a range of accommodation types to meet their changing needs. This would provide a pathway that gives them access to care, and allows them to release equity to help finance this along the way while still being able to manage their estate."