Property developers should not only take into account affordability when planning project, but also consider what age group they are building for, says the Royal Institute of Chartered Surveyors.
According to a RICS survey published today, it is not only people's "purchasing power" which dictates where they want to live or buy property.
Also having a great impact on their decisions is their current stage of life, such as existence of family, chilren, and so on.
RICS says there are "five ages of homebuying": single buyers, couples with no children, couples with children at home, couples with children that have left home, and those aged 65 and older.
The survey does not mention single-parent families.
People in these different ages of homebuying all want something different from their potential property purchasem, RICS says.
Some 92% of couples with children still living at home see the distance to good schools and nurseries as the single most important factor when buying a home.
Younger, single buyers, on the other hand, are more interested in living close to bars, restaurants and clubs, with 77% saying they are looking for a good nightlife.
Good links to public transport or access to motorway and off street parking are one of the top three most important factors for all age groups except those over the age of 65, the RICS survey says.
Jeremy Leaf, national housing spokesman for the RICS, says: "These findings confirm what we've suspected; younger people look to be nearer nightlife and entertainment, those with children are fixated with schooling but, once children have fled the nest, adults look for a quiet and relaxing lifestyle with more space. Their property purchases reflect that."
"These patterns are a very important guide to planners and developers, with the quest for sustainable, mixed communities proving to be particularly challenging."IFAonline
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