Already, it is becoming clear that among the young, renting is overtaking home ownership. PwC has predicted that in under 10 years’ time more than half the under 40s in the UK will be renting from private landlords.
This has a significance that stretches beyond the property market: there is an implication that so called “generation rent” are ushering a new version of capitalism, based on experiences rather than belongings.
“We’re looking at a far more value-led generation of consumers, if they’re consumers at all,” suggests Karen Gray, interior designer for Cumbria’s Twin Lakes Country Club’s lakeside homes development. “This may have an impact on property development, in terms of who it’s aimed at.”
Karen thinks that a big part of the future for properties that appeal to owners will be in the bespoke qualities of their interior design.
“Clearly, property and home ownership is an increasingly huge commitment, so, within that context, we must look at what helps define value,” she says.
Here, the aesthetics of a project are as vital as its location, and help enormously in determining its appeal.
“Even with property prices rising, this is uneven throughout the country, and is no guarantee of the net worth of something,” advises Karen. “At Twin Lakes, the vision goes beyond the location, to look at the development in its entirety.”
For Karen, this means every detail, focusing especially on interiors.
“We’re making the most of a location by achieving a perfect balance between all the elements involved: the natural setting, the architectural design and the interior space”
“For everyone, their own property is special, and what we’re doing is establishing a uniqueness from the outset,” Karen says.
Exploring a Perfect Niche
People talk about the wow factor with property, and they also talk about the supreme importance of location as a factor.
However, the reality for most homebuyers and property investors is compromise: whether this is the size of the property or its garden, or its local amenities, or even the location itself.
“What if your property niche could be perfection itself? In reality, this translates into putting together a package that’s as close to an ideal of perfection as you can get”
This means harmonising all the elements: from location, to building materials and bespoke interior details.
“This is a form of organic architecture, where the materials, functionality and location all come together,” concludes Karen, “where the buyer doesn’t feel they’re making any compromises when choosing a home.”