They're affluent. They're responsible. They're mature.
They're in the market for city housing.
And, if you're a landlord, they may be a group worth targeting
as residents for your block of flats.
The New Hipsters
They're the last of the baby boomers: the over-55 generation
born to parents who struggled through World War Two.
But many of these boomers are not struggling at all. In fact,
they often have substantial guaranteed incomes from sizeable
investment portfolios and fat pension plans.
A recent article in The Guardian calls them "an untapped
demographic in the housing market." These people often seek one- or
two-bedroom flats in property blocks in London, including in the
hippest neighbourhoods - hence their nickname, "The New
For example, the over-55 crowd is flocking to trendy Hackney in
Quadra, a Hackney housing development, offers its properties
exclusively to those aged 55 and up. Quadra housing targets
'empty-nesters' who have forsaken sprawling suburban homes and are
downsizing and relocating to the city.
Claire Anderson, director of development for Quadra's housing
association, reports, "We make no assumptions about retirement at
the age of 55. 'Downsizer' simply describes what people are aiming
to do, usually when children have grown up and left home." She
adds, "They're freeing up money held in equity and property to do
Sheffield University has undertaken a project called DWELL:
Designing for Wellbeing in Environments for Later Life.
DWELL researchers noted that in 2016 there were 20 million UK
households in the 55-and-over category.
Jeremy Porteus, director of the Housing Learning and Improvement
Network, wrote the introduction to DWELL's recent report in which
he observes, "Research consistently shows that many healthy,
confident people consider relocating from their family home once
they reach their mid-50s." He concludes, "Clearly we need a range
of downsizer homes… to meet the wide range of aspirations and
means" of the over-55 generation."
Does your property block focus on a specific age-range of
leaseholders? Are they more discerning in terms of standards for
their block and its communal facilities?
If you're the landlord of a block in London, Manchester or the
South East, we'd be delighted to chat about the ways in which we
could manage your property to the highest standards to please all
of your residents, young or old! To find out more, please call
Roisin on 0845 456 8775.
Posted on Friday, July 07, 2017.