Reforms in architecture is critical in order to meet the needs of the nascent real estate “tribes” of the future.
There are 10 groups of social tribes that have started to emerge, but Home-Work group, Social Singles and Multi-Generational Clans are expected to take off in the next 15 years. These new household groups will directly impact how Australian property is constructed, renovated, purchased and sold.
Here are the 10 tribes:
This tribe is expected to become the fastest-growing household type, with over 6% of Australians becoming single-person households by 2030. It is forecast to expand by roughly 2% annually to reach 3 million households by 2030.
These consist of individuals who will prefer to rent in a location that may be beyond their means to purchase to allow them to live where they want to live.
One in three workers will become freelancers by 2030, hence the emergence of this tribe. The Home-Work group desires space where they can work and live at the same time and where there is fast Internet connection, sliding partition doors and flexible building design to let them fashion their abode according to their requirements.
This is the traditional nuclear family household comprising of mum, dad and children.
This group, which comprises children, parents and grandparents living in one house, is also expected to grow. The resurgence of Multi-Generational Clans is attributed to the rise in Australia’s multiculturalism, which is remains the custom in many parts of the globe.
These are individuals who have been utilising the real estate market as a means to create wealth. This group is also expected to continue to grow.
People will elect to reside in rural regional and smaller towns as a lifestyle choice, as transportation networks and technology improve.
These are people whose situations have changed and are combining their assets to rent in a nice location together. It is also a means to go through various experiences with assorted people in their homes. This group is forecast to grow through 2030.
This generation of Baby Boomers, born between 1954 and 1965, will be between 65 and 76 years old by 2030. They are young-at-heart and have no wish to slow down. They will continue to live independently, live as long as possible, aided by the state-of-the-art at-home technology.
Childless double income couples.