THE coming decade is shaping up as the lifestyle decade with lifestyle housing one of the biggest stories in the residential sector, according to a report by Macquarie Bank.
The 1980s was a decade of excess and the 1990s ‘back to basics’ but the current decade will be based on lifestyle choices.
The trend to city living will continue, particularly among ‘Generation Xers’ who dream of individual design and a location close to cafes, restaurants and cinemas.
“Increasing wealth and rapidly changing work patterns are working alongside lifestyle issues to create demand for housing in lifestyle locations,” the Property Market Review said.
“We expect demand for second homes to surge as, increasingly, ageing baby boomers buy two residences: a low maintenance home in the city and a beach house or country property.
“Over this decade it will be the housing decisions of those aged fifty to sixty-five that will shape residential markets,” it says.
“We expect ‘ageing boomer’ housing to be the other big story as baby boomers move to smaller low maintenance medium density town-homes providing security and lifestyle choice.
“We are not talking about the retirement village market. Most ageing boomers will not completely retire.
