How much do care homes actually cost?

We would love to tell you that the cost of eldercare is dropping across the country. There’s nothing that would give us more joy. But, as you would expect, this is far from the truth. In actuality, along with everything else adjoined with the cost of living crisis, the prices associated with care homes are rising all over the UK. On average, costs have jumped by 11% to £46k a year . This increase also doesn’t include nursing costs, which would typically be an extra 20% on top of those mammoth costs. This heart-sinking, gut-wrenching statistic isn’t exactly surprising, but it serves as an important reminder of the financial burden many of us will have to pay to look after their loved ones.

And where are the worst affected areas? As you would expect, the most expensive price to pay for care is within London, which would cost an average of £57,928. At the opposite end of the spectrum, Cardiff was the cheapest in the UK costing about £35,984 per annum. And the area that saw the greatest percentage increase was Brighton, which has risen by 15% since 2022. You can explore the regional differences in costs of care in our handy map below.

Whether it’s for children or the elderly, the price of care has performed a staggering rise in the last year, exacerbated by the cost of living crisis. The UK government has reacted by giving further financial benefits for those with children. By 2025, those with children over the age of 9 months will be entitled to 30 hours of free childcare per week. This is a small but substantial stride to help those with young children release the financial strain on their household. However, we have not seen such a reaction to support those with elderly caregiving responsibilities. If you would like to read more about the similarities and differences between eldercare vs. childcare, have a look at our article here .

Doubt was also cast over the funding promised by the government for the social care sector. A total of £600 million has been held back and it is unknown if and when that money will be used. Council chiefs are warning that this sudden retraction could mean that the frail and vulnerable will not get the care they need. With an estimated 500,000 people currently waiting for care, it is vital that this money is not just used, but put to the most efficient use that will help families look after their elderly loved ones.

And while we wait for those integral benefits to be announced, there is still support out there. Those looking for help understanding, finding and funding eldercare can always count on the team at Seniorcare by Lottie for support. Contact us today to see how we can help relieve the burden on your workplace and save your employees some crucial cash during the caregiving crisis.