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Missing ‘boomers’ risky business

IF YOU do not target your industry toward the ‘baby boomer’ you are wasting your time.

This was the view expressed by Monteath Properties managing director Bruce Monteath at the South West Focus 2000 conference.

“I believe that if you are in property or in any industry, if you don’t target the baby boomers you are in the wrong business,” he said.

“We will never see such a surge in spending as we will see over the next ten years.”

He said, traditionally, people’s spending patterns during their lifetime could be represented by an inverted U-curve.

Usually when people reach fifty they stop spending money and start saving for their retirement, but in this case there was no evidence of this happening, and it was unlikely to happen, he said.

Mr Monteath said baby boomers were very discerning and they were prepared to pay extra for a good quality home unit.

He said close proximity to water was vital if the developer wanted to sell property quickly.

Mr Monteath said that in his experiences the best developments are often the tough ones.

“Often we look at twenty ways to make a development not happen rather than finding twenty ways to make it happen,” he said.

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