At Advantage Structural Defects Insurance, we’re in the fortunate position of being approached by a broad range of different developers, housebuilders and social and affordable housing specialists when they’re in need of structural warranties. This means that we get to see a whole host of different projects, from individual houses to major developments, being completed. As a result, we know how innovative and creative housebuilders of all sizes can be.
We’ve previously written about some of the changes we’ve seen in the construction sector in recent years, from how generation rent is changing the face of modern apartment developments to how councils can lead the way in terms of eco-friendly building.
Today, we’re looking at a new housebuilding trend which Advantage hasn’t written about previously: how to create housing for intergenerational living.
According to real estate specialists CBRE, multi-generational housing is on the increase; 1.8 million households now span two or more adult generations, up 38% since 2009. There are many factors driving this increase, including providing support for older family members, a lack of retirement homes, help with childcare and increasing housing costs. However, the recent rise in multi-generational homes has been primarily driven by millennials living with parents. And with increasing house prices and worsening affordability, this is likely to continue. Yet, an ageing population will have an increasing impact; currently there are around 11.8 million people over 65 in the UK and forecasts suggests this will rise to 18.5 million by 2040.
Clearly there’s a demand for a new kind of housing that doesn’t simply cater for the nuclear family, and UK housebuilders are responding to the challenge. For example, ahead of National Intergenerational Week (March 23 -29), Elan Living is showcasing The Dunes in Formby, which caters for multi-generational living.
Marie Morris, sales director for Elan Homes in the North, said: “There are lots of reasons why multiple generations of a family might want or need to live together, including emotional, financial or practical considerations.
“At Elan we plan our developments carefully to take into account the housing needs of a range of purchasers, including multigenerational families. Some of our larger properties, particularly those set out over three floors, are well-suited to intergenerational living as they offer flexible accommodation that can be adapted to different family structures.
“In some cases living with members of their wider family is a solution to loneliness or means that they have the support of relatives on a daily basis. Grandparents, parents and children can all benefit from sharing one home and spending real quality time together.”
“Bringing generations together means they’re able to share responsibilities from cooking and cleaning to childcare and bills,” Marie added.
Advantage’s View: Could this be the shape of things to come? From increasingly sophisticated renters to self-builders and those seeking multi-generational housing, rising house prices have created a more flexible approach to buying, building or renting a home. We expect to see developers continue to innovate to create housing to suit owners and tenants at all stages of life, from modern student apartments to housing created for family members of all ages through to retirement developments designed to enhance wellbeing.
Related read: How changing housing tenure trends could affect UK retirement plans.
Image shows housing suitable for multigenerational living at The Dunes in Formby.
Interested in learning more? Contact one of our structural warranty experts today to discuss your requirements on 0845 900 3969
