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 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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The Rise of the Staycation

The Rise of the Staycation

Long Live the British Holiday

Ayia Napa or Robin Hood’s Bay this summer?

staycation, aiya napa, domestic tourism, summer holiday, destination holiday,

Aiya Napa

As the temperatures rise in the run-up to summer’s arrival, the annual summer holiday planning for many a Brit is taking place. The regular beach destinations including Mykonos (Greece), Lanzarote (Canary Islands), Menorca (Spain) and Algarve (Portugal) have long been favoured for their serene ambience, cultural atmosphere and performance as an escape from the grind of daily life. The beauty of Cornwall’s Talland Bay and Wales’  Llanddwyn Island, has worn away the allure of Europe, in favour of a staycation. At the same time, those of us who prefer skiing on Christmas Eve, to relaxing at home, are trading La Plagne and Livigno for Glenshee and Manchester. Data from the Great British Staycation, revealed that in 2018, 52% of 25-34-year olds took holidays within the UK for tourist attractions and financial benefits.

Robin's Hood Bay, staycation, domestic tourism, hotel property,

Robin Hood’s Bay

With the looming presence of Brexit, the magnetism of British soil is leading many holiday goers to forfeit the passport stamps in favour of domestic tourism. With the decline of the pound’s value on the global market and the impending costs of VISAs to travel within Europe, the UK has become a holiday hotspot. Tourism and marketing expert Dr Sheila Malone of Lancaster University said there had been a noticeable movement in trends following the Brexit referendum. She told Sky News: “That seemed to trigger a different kind of consumer sentiment in terms of spending – a little bit more cautious, looking for a bit more security in how they (British holidaymakers) are spending their money.”

What does this mean for the tourism industry?

Trafford Hall Hotel, Old Trafford, Manchester, Hotel Property, Domestic Tourism,

Trafford Hall Hotel, Manchester

The increase in domestic travel over overseas trips, while initially was driven by the rising costs, has become a trend, holiday goers and travellers desiring multiple short breaks throughout a year, no necessity for travel insurance, last minute holidays and reasonably priced packages. Additionally, as the pound has weakened international tourism has increased, making the UK a hotspot travel destination both nationally and across the globe. Locations such as Manchester draw consumers from all walk of life including sport and theatre.

Hotel Property

The rise in staycations stands to benefit the UK tourism industry, expected to be worth £257 billion by 2025. The hotel industry reached a total turnover of £98bn in 2017 proves the demand for quality hotels in the UK is higher than ever before.

Epic Hotel, Hotel, Liverpool, Hotel Property, Domestic Property,

Epic Hotel, Liverpool

Most popular in London & Blackpool, Hotel Property is a smart method of property investment, given the lower entry cost compared to residential property and student property. It’s an ideal method to invest in the British economy and support an industry with rapid growth. As a hands-off management investment, the hotel property is a passive income and as most investment deals offer to buy back in year 5, it’s an intelligent short-term investment.

Interested in hotel properties? Email us at info@tarquinjones.com

 

 

 

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