Gill Lamprell, of Knight Frank, traces the boom in solo living, and explains why it can make for a more varied mix of neighbours on new developments:

The rise in single living has been one of the most important demographic shifts of recent decades.

Lloyds TSB’s recent household projection figures show that over the next 10 years the number of single-person households will increase by two million.

Knight Frank’s own research suggests that the period 2006-2026 will see a 23 per cent increase in household numbers in the South East, but a 54 per cent increase in those living alone. There have been a few key trends contributing to this which will continue over the next decades.
Firstly, the Bridget Jones phenomenon: the rise of single female property owners is the inevitable result of a century of economic change.

Single people are generally more self-sufficient these days, and a woman wanting to own her own home is the natural progression linked to increasing financial independence. The number of single women living alone more than doubled from 9.8 per cent in 1983 to 21.7 per cent in 2002, according to Halifax.

Conversely though, the largest and fastest growth in single person households has actually been among young men, and solo living is becoming more permanent for males. Some men are choosing to live alone while others are forced into this situation and constrained to this lifestyle by circumstance such as a breakdown of a marriage, where it is often the man that moves away from the family home.

While the fastest growth in singles living alone is among people aged 25 and 44, the ageing population means there is more demand for homes from elderly people, particularly women, who tend to outlive men.

The knock-on effect this has on the housing market is a requirement for smaller, more affordable housing, and goes hand-in-hand with the fact that two-bedroom homes are now the most common new build in England. This rise in two-bedroom homes is not only in recognition of our changing society, but is also due to pressure on developers to meet government guidelines which encourage higher density housing.

Surprisingly, this is producing an eclectic mix of owner-occupiers. It’s not just young bachelors, but young professionals, young families, retirees and down-sizers who are buying apartments, ensuring there is a healthy balance of different people in our town centres, and a constant hub of activity and life within them.

lFor further information, please contact Gill Lamprell at Knight Frank on 01483 564660