INTERIORS (ASSISTED LIVING) 41
THE MULTI-GENERATIONAL LIVING OPPORTUNITY
The growing trend of multiple generations living together in one house offers a whole new market for housebuilders – they just need to consider age-inclusive and flexible design options, says David Schill of Aritco Lifts.
presents in the near future, and yet surprisingly, entrepreneurs and brands – housebuilders among them – have been slow to recognise the potential opportunities of this dramatically shifting demographic. In a decade from now, one in five of the
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UK’s population will be aged 65 or over, and in 50 years’ time, this age group will have increased by 8.6 million, roughly the population of London. In this time of unprecedented change, the wealthiest segment of our population today is aged over 50 —The McKinsey Global Institute
uch has been made of the complex social issues that an ageing global population
(MGI) has noted that individuals in the 75-plus age group are now spending more on average than younger consumers.
A NEW TREND IN HOUSING Although they tend to be more financially secure, older generations struggle to find social care and suffer from loneliness and isolation, while younger generations struggle to find affordable and available homes. No matter what age we are, our homes contribute to our mental wellbeing – our feeling of safety, identity and the quality of our social interactions. Inter-generational living is a win-win solution, and recent research suggests it is on the rise. According to the Office of
National Statistics, around 6.8 per cent of households in the UK (1.8 million homes) were multi-generational in 2019, and 125,000 new families are set to embrace this trend every year. Courting this new, blended consumer group needs foresight and flexibility from the building trade, and a focus on homes that can be adapted to changing needs as we age.
AGE-INCLUSIVE DESIGN According to housing research agency the NHBC Foundation, British builders need to look to Asian countries, where new- build housing aimed at multiple generations is considered a market in its own right. Construction techniques such
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