Modern technology and greater choice is beginning to influence the way we live our lives. Life changing decisions are being made later in life and workers are increasingly transient. Individuals are often becoming overwhelmed by choice and are increasingly looking for guidance when making life decisions. As a result life consultants, lifestyle magazines and social recommendations dictate the nature of modern demand.

Research has identified a new group of consumers dubbed ‘life shoppers’. These individuals value experiences over assets and, as such, are more reluctant to take decisions which will limit them to one lifestyle or geographical area. They are delaying so called ‘grown up’ decisions such as marriage, children, home ownership and jobs until well into their 20s and 30s. This trend is also impacting the demand for housing and the relevance of the current stock. The number of single person households has increased dramatically in the last 20 years. Unfortunately the current stock is dominated by ‘family homes’ (homes with 3 or more rooms).

These trends point to a changed approach to the way we pick a partner or a home. The approach now appears more akin to that traditionally used when purchasing a mobile phone or an item of clothing.

Fact File

• It is predicted that by 2012, 30 will be the new ‘official’ age for transition into adulthood.
• The number of jobs young people have in their first three years of employment has doubled since 1975 from two to four. Over half of all job changes occur before the age of 30, and a quarter before the age of 20.
• In 1971, the average age at first marriage was 25 for men and 23 for women. By 2003, this had increased to 31 for men and 29 for women. In addition, since 1990, the average number of partners among the 16-44 age group has increased from two to four among women, and from four to six among men.
• In 2004, around 40% of 24-29 year old males and around 25% of females were still living with their parents.