I have to agree with DB, this is the main reason why I refuse to buy another house in the UK right now!
The demographic implications for the UK housing market get even more interesting when you look down to the macro level. Find an area you know on here:
http://neighbourhood.statistics.gov.uk/dis...DqQLvpAe?bhcp=1
Looking at the occupancy and demographic makeup of my own neighborhood, there is a very obvious disproportionate (perhaps 40%) number of single occupants in their 70s and 80s (now mid 70s/80s) living in an area mostly comprised of 3 & 4 bedroom houses. It's not a retirement area, just a place with an aging population. It's very unlikely that many of these folk will still be there in 10 years time.
This will effectively become masive 'new' supply of mid range property, because people of this age will mostly move on to places outside the mainstream housing market. This is just a snapshot, but due to massive out migration from London just after WW2 this is probably quite typical for many of the satallite commuter towns.