Demographic change unsettles new-build housing

Traditional structures to the UK housing market are under attack from demographic change, according to house-builder David Wilson Homes (DWH).

Formerly Brits would work in their chosen profession until retirement, moving from an apartment to end of terrace property and eventually a detached house with each move up the career ladder.

But this linear pattern of property acquisition has now all but disappeared, according to DWH.

"Once upon a time, our lives were predetermined by our age, gender and social status," said Ian Webb, brand director for DWH.

"Today, society is less rule-bound, meaning people can pursue the path that they choose, often changing their identity many times throughout their lives."

Gap years, sabbaticals, downsizing, relocating, divorce and more career changes are all new phenomenon impacting the housing market.

"No longer can you look at a two-bedroom apartment and presume it is owned by a first-time buyer or a six-bedroom detached house and know it has been purchased by a large family," continued Mr Webb.

"Today we are far more likely to find middle aged people in what has traditionally been designed as a starter home, be it as a result of divorce, downsizing to release equity in order to retrain, or even as a stop-gap for individuals returning from time spent travelling.

"Similarly, as young professionals continue to shun marriage and children in favour of their careers, they are far more likely to achieve the status of a penthouse or detached property at a younger age than previously thought possible."

Increasingly, Brits are moving abroad – some 200,000 in 2006 according to DWH – women are having babies later and people are changing careers more regularly.

"Nowadays we see growing numbers of parents moving in with their children, boosting the requirement for a property with an extra room, or in some cases even floor," commented Mr Webb.

"Couple this with the trend for 'kidults' – adults still living with their parents – and we begin to get an idea of the consumer chameleon of the housing market."

All of which have forced the housing market to adapt.

"Changing life paths are changing the demand for different house types," concluded Mr Webb.

"Housing today must be flexible, as suitable for a first-time buyers as a single parent, divorcee or retired couple."