Occupancy levels across private care homes in the UK have returned to, and in some cases exceeded, the pre-pandemic long-term average to reach 88%, according to Knight Frank’s 2024 Healthcare Trading Performance Report.

The figure represents a 2% increase on 2023 and is the highest average occupancy rate since 2019, as structural trends continue to fuel requirements. Occupancy levels fell almost 10% in 2020 to 79% with the sector now having witnessed a full recovery, having seen steady annualised increases in line with growing demand from an ageing population across all regions. 

Knight Frank surveyed 80% of the UK’s corporate care market, which comprises over 100,000 care beds across 781 towns and cities. Higher occupancy levels have seen average weekly care homes fees grow 11% year-on-year and is currently £1,182 per week. As a result, earnings before interest, taxes, depreciation, amortization, rent, and management fees across the private care home sector has increased 26% in 2024.

London (14%) saw the highest yearly increase in fees, with the North East (60%) representing the highest proportion of self-funded care residents across the country. Northern Ireland witnessed the highest year-on-year growth out of all UK regions, with occupancy increasing 6.4%, followed by Wales which witnessed a 5% rise in occupancy across its private care homes.