UK Home ownership has reduced from 73% to 64% over the past 10 years the fastest reduction in Europe.
People of all ages are embracing flexible living and working. Happy to share office space with relative strangers, more people are now willing to adopt the same approach for living.
Generation Z’s, the new workers, being true digital natives want app-based or seamless online services when renting and dealing with property management. They are also less brand conscious, very aware of mental health and drink less than their predecessors. All have implications for the kind of amenity space on offer in the accommodation they occupy.
Around the world major economies residential capital values have risen by approximately 30% over the past 5 years. Therefore, more people are turning to rental markets for their accommodation needs. For some, this is due to affordability but changing lifestyles affect this as well. City-living, globally mobile young people are settling down later in life, so flexible rental models suit them well.
The baby boomer generation is entering retirement age. As they live longer, they also want quality accommodation in lively urban environments, access to amenities and a sense of community.
Learning from the workplace:
Trends in the workplace are increasingly relevant to the home.
Over 50% of European workers want to work in a town or city centre.
Major concerns are:
- Length of commute – half of London rental commuters travel for more than 30 mins each way
- Wi-Fi quality – seamless connectivity at both home and work is now essential as digital life moves to the cloud
- Parcel collection – over 50% of 18-24 year olds consider parcel delivery to be of high importance but only around a third of workers are satisfied with delivery and collection lockers