The rise of the DINK

The rise of the DINK

In 2019, there are more child free adults than ever before. While, for those born in 1946, only 9% had no children at the age of 45, whereas for women born in 1970, this figure has risen to 17%. A US study discovered that 1 in 5 women enter menopause without children. Additionally, birth rates

The rise of the DINK

In 2019, there are more child free adults than ever before. While, for those born in 1946, only 9% had no children at the age of 45, whereas for women born in 1970, this figure has risen to 17%. A US study discovered that 1 in 5 women enter menopause without children. Additionally, birth rates among women in their twenties declined by 15% between 2007 and 2012.

The reasons why so many couples adopt a Dual Income, No Kids lifestyle, commonly known as DINK, is varied. For some the financial burden of raising a child is more trouble than its deemed worth and for others, it means sacrifices to lifestyle and career aspirations. Without the responsibility of children to cater to, the rise of DINK, the demands for property are not what they were for young professionals of Baby Boomers and Generation X.

What DINK mean for the property market?

Imperial Square, Luton

ONS figures showed that in 2017 the proportion of women never having children has doubled in generation.

Leisure & Amenity

Infinity Towers, Liverpool

Young professionals today are interested the trendy new neighbourhoods. Without the pressure to consider a property’s proximity to schools and day-care the focus for many tenants now is convenience. After working all day, and in some instances earning from a second job, the Millennial generation are interested in homes which offer closeness to shops and travel links.

Work Life Balance

The Tannery, London

In 2019, the UK is more career driven than ever before. A booming economy mixed with the impending launch of HS2 and mass regeneration schemes, means over 250,000 jobs are being launched in the UK by 2030. As a result of this, generation rent is drawn to city centre properties to stay in the heart of their working life.

Student Housing Demand

Marvel House, Plymouth

In 2018, 2.3 million students were recorded to be in higher education. Entrepreneur reported that 24% intend for pay for higher education via savings and 38% plan to work during their university studies. Higher education is at an all time high since the launch of the postgraduate government student loan. As more students stay in education for longer to gain qualifications such as an MBA and PhD, often via part-time study, instead of starting families the demand for student housing will increase.

Luxury Lifestyles

Hadrian’s Tower, Newcastle

Without adhering to the practicalities of raising children, tenants are desiring homes to suit their personalities and lifestyles. For example, 2019 saw an increase in properties with pools and audio door entry systems. Favouring state-of-the-art design specifications including private lounges, the demand for luxury property is increasing across the country.

Travel Pursuits

Epic Hotel, Liverpool

A chief reason, many adopt a DINK lifestyle is the sizeable disposable income, which can be used for travel. The rise of the staycation, has seen a dramatic increase in domestic holidays. As cities within the Northern Powerhouse gain regeneration, the rise in UK’s tourism to serene areas will benefit from the child-free movement.

Entrepreneurship

The Bridge, Kirkcaldy

Among Generation Z, working to suit your lifestyle is a priority. Entrepreneur announced 41% of Generation Z intend to start their own businesses instead of continuing the Millennial trend of side jobs. The rise is e-learning opportunities focusing on creative arts and business is predicted to be worth four times more than the higher education market. As a result of this, the demand for office space will increase.

Old Age

Bryn Illtyd Ltd, Wales

Without the comfort of having children to take care of them in old age, DINK jetsetters will be desiring Care Homes in the future.

Final Note

As the economic climate changes, the demands for property respectively alters. With more favouring an enjoyable lifestyle and the financial benefits that come along, the demand for family friendly property has seen a sharp reduction.

 

 

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Neighbourhood Watch: Luton, Bedfordshire

Neighbourhood Watch: Luton, Bedfordshire

Luton Offering relaxation and a healthy work life balance, Luton, only 22 minutes from Central London is an ideal choice for investment. The town of Bedfordshire provides an unrivalled combination of superb infrastructure, great access and a skilled workforce. Culture Away from the hustle and bustle of the capital’s busy city centre, Luton is magnet

Neighbourhood Watch: Luton, Bedfordshire

Luton

Offering relaxation and a healthy work life balance, Luton, only 22 minutes from Central London is an ideal choice for investment. The town of Bedfordshire provides an unrivalled combination of superb infrastructure, great access and a skilled workforce.

Culture

Wardens Hill Reserve

Away from the hustle and bustle of the capital’s busy city centre, Luton is magnet for recuperation. Home to a number of tranquil beauties including Wardens Hill Nature Reserve, the top attraction is Stockwood Park.  The 100-hectare park is at Luton’s southern limits is a former country estate, embraces the glorious natural beauty of the home. Within the park, the Stockton Discovery Centre, located within the stables, comprising a Discovery Hall, a set of Victorian Greenhouses and the Discovery Galleries.  In the Discovery Hall, the Springs and Wheel exhibition looks at the evolution of transport over centuries. The Discovery Galleries are dedicated to local history, and have Roman, Anglo-Saxon and Medieval artefacts, as well as a collection of arts and crafts gathered from Bedfordshire villages in from the 1930s to the 1950s.

Education

University of Bedfordshire

Home to over 24,000 students from more than 100 countries, Luton has a diverse student population for both undergraduate and postgraduate study. Within Luton’s vibrant arts and cultural scene named, the Cultural Quarter, Luton is jam packed with cultural diversity. Home to an 11-screen cinema, a shopping mall, an indoor market and much more, the town embraces its student population.

Regeneration

IMAGE: POWERCOURT STADIUM

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Power Court Stadium. Image: 2020 Developments

Set to enjoy a wide range of regeneration, Luton’s most anticipated projects include the Power Court stadium, a new 23,000 seat football stadium complete with a selection of bars, restaurants, a hotel and housing. Additionally, Newlands Park will revitalise the city as a retail, hotel and business centre. The redevelopment and the expansion of the selection of leisure and retail facilities on offer in Luton is set to create over 4,000 new jobs.

Alongside these sizeable regeneration projects, Luton Council are pushing Luton to become a key player in world economy by their on-going £1.5 billion worth of inward investment. Spanning 20 years, the inward Investment Framework will see the council improve roads, rail and bus access and business projects.

Infrastructure improvements will include the £225 million Luton driverless trains from Luton Airport Parkway Station to Luton Airport (DART) and the £30 million update to the M1 Junction 10a to ease traffic to the airport and surrounding areas.

Transport

IMAGE: LONDON LUTON AIRPORT

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The council expects to attract sufficient companies to create 18,500 new jobs over the next 20 years. This, in turn, will also help improve the property market as more homes are needed to meet demand from new residents in the town.

Situated only 30 miles north of London, Luton boasts some of the best travel connections in the commuter belt, offering a 22-minute train journey to the centre of the capital and direct rail links to London Bridge, Blackfriars and London Farringdon. By car, Luton is a short drive to the M1 and M25, and a 6-min drive to London Luton Airport.

Luton is a globally connected town and is home to the UK’s 5th busiest airport which offers direct flights to 70 worldwide destinations. The local rail network not only connects Luton to London and the rest of the UK, but also provides a fast service to Paris via Eurostar at Kings Cross St Pancras.

Final Note

Ready to see properties in Luton? Email us at info@tarquinjones.com for more details.

 

 

info@tarquinjones.comNeighbourhood Watch: Luton, Bedfordshire
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4 Reasons to Invest in Luton

4 Reasons to Invest in Luton

Luton as an investment location has truly started to establish itself as the next up and coming property hotspot. The city enables people to pay for easy access into London without paying London prices, but it would be wrong to simply say Luton is only good because of its proximity to the capital. Luton in

4 Reasons to Invest in Luton

Luton as an investment location has truly started to establish itself as the next up and coming property hotspot. The city enables people to pay for easy access into London without paying London prices, but it would be wrong to simply say Luton is only good because of its proximity to the capital. Luton in its own right has excellent transport links, major regeneration works and well-priced property- here in detail are the reasons why you should consider investing there.

  1. Transport links

Whether travelling by road or train, travelling into London from Luton is easy and quick. The M1 motorway enables a straight route directly into the capital in under an hours drive. The same motoway can be used to travel north, taking drivers all the way up to Leeds.

Luton Station also provides easy access into London in under 30 minutes. Luton has three mainline railway stations, Luton, Luton Airport and Leagrave, which connects the town with not only London, but also other major UK destinations including Brighton, Leicester, Leeds and Sheffield.

But perhaps the most important piece of transport infrastructure in the town is its international airport. London Luton Airport is one of London’s five main airports and is also the UK’s fifth busiest airport, with over 14.6 million passengers passing through the airport in 2016. Serving destinations across Europe, the airport has also become a key part of the local economy.

  1. Housing market

In an era where many are priced out of the expensive London markets, popular commuter towns like Luton are becoming more and more popular from an investment point of view. It only takes 25 minutes to get into London, but property costs less than half as much. In fact, many suburbs of London take far longer to get into Central London than Luton does; with 45 minute tube journeys common for many.

In addition, with house prices in the town on the increase, going up by 18.5% in 2015, the potential capital gains from buying a property in Luton are certainly impressive. And with rental yields as high as 6%, Luton has become one of the most profitable areas in the UK to be a landlord.

As more people look to Luton for an affordable place to live close to the capital, rental demand has increased. This in turn has raised average rents in the area to £722. That equates to a 10.4% increase since 2014, the highest in the UK.

  1. Booming economy

Touched upon before, Luton Airport sits at the heart of Luton’s economy alongside its retail and services located in the town centre. Monarch, EasyJet and TUI UK are just a few of the worldwide airlines based out of Luton Airport. It’s no surprise then that its England’s fastest growing airport and it aims to increase its annual capacity to by 50% by 2020 backed by a £110 million redevelopment.

Besides the airport, Luton itself has experienced and set to undergo major regeneration that will go a long way towards boosting the economy in the city. Luton council announced a growth plan back in 2015 set to put £1.5 billion worth of inward investment and a variety of mixed-use developments aim to create more than 18,500 new jobs. These include a 395-acre Enterprise Zone, where a host of multinational firms will likely base themselves.

All of this contributes to Luton’s growing economy and solidifies it as a prime hotspot for those looking for a secure Buy-To-Let investment.

  1. Student town

Luton is fast becoming a city in which students want to live and base themselves out of. Back in 2010, the University of Bedfordshire opened a brand new £34 million campus in Luton which has since become one of the universities main hubs. Nearly £30million has been spent on building the state-of-the-art Postgraduate and Continuing Professional Development Centre, the School of Art and Design, and the Media Arts Centre.

In order to cater for the growing number of students flocking to Luton, there are a range of amenities and entertainment there for its young population. There’s shopping at The Mall Luton, an array of sports facilities, an 11-screen cinema, and a good mix of bars and restaurants.

Moreover, in 2016, the town launched its Cultural Quarter, which is home to a collection of independent and creative businesses and hosts regular live entertainment such as events, gigs and festivals. Then of course there’s Luton International Carnival, the largest one-day carnival in Europe!

What the experts are saying

Lucian Cook, Savills UK head of residential research, said the demand for areas away from London among investors is evidence that these will be the new hotspots in buy-to-let.

“The residential investment focus is likely to shift to the regional cities where, in comparison to London, the cost of entry is lower while both income yields and the capacity for medium term price growth are higher,” he added.

In terms of the top ten areas for rental yield growth in the coming years, Savills reports that Luton will come in at number eight, ranking alongside the likes of Birmingham, Plymouth and Reading for potential returns for savvy investors.

With top property experts listing Luton as a prime area to invest, many are capitalising on the relatively affordable prices there to give them a great BTL property that delivers on both rental income and capital growth.

For more information on the latest Tarquin Jones investment opportunities, see our Investments page or call the team on 020 8445 6542.

 

 

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