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  • Property-a-holics

    Millenials and Generation Z

    I just finished watching an interesting programme on millenials in China and it got me thinking.

    FYI, millenials are distinguished compared to previous groups via Google as follows:

    The Silent Generation: Born 1928-1945 (73-90 years old)
    Baby Boomers: Born 1946-1964 (54-72 years old)
    Generation X: Born 1965-1980 (38-53 years old)
    Millennials: Born 1981-1996 (22-37 years old)
    Generation Z: Born 1996/7-2010 (9-22 years old)

    The programme basically stated that millenials are online savvy/shoppers/live their life online, which does seem quite strange even for Gen X, but even more so for the generations before them. The main message I got from the programme was though, that they make up a large (and growing) proportion of each population, and the percentage is growing as the generations before them pass on. They also want the best of everything, want it now, and there was no mention about saving for big ticket items (like homes) in the future?

    I deal with Millenials and now some Gen Z in my business, and I must say, at times it can be challenging but I try to understand their needs more as time goes on because they are my core business.

    Whilst they like to be seen as being different from previous generations, there are still (in the UK anyway) some old signs such as liking a nice lounge to socialise and relax in with a big-screen TV to stream various online content, good internet connection (always on you see), and, it would appear they socialise in smaller groups than I've experienced before? By socialise I mean the close group around them, not the 500+ friends on Facebook.

    As far as making my offerings millenial + Gen Z friendly - well, funky and up-to-date seems to go down well with well known respected brands, plus any and every possible labour-saving device is pretty much taken as 'de rigeur'.

    What percentage do millenials/gen Z make up of your tenants, and what needs do you think they have that are different to previous generations property-wise? For me, it's 100% of my tenants, and will remain so (moving more in to Gen Z).

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    Most of my tenants are Millennials also and apart from the obvious mod coms they want bicycle storage. Which I don’t have because flats in London are built without them.

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    Good point about bicycle storage. This is something that I am considering but they are not cheap (Roughly around £500)

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    This really needn’t be expensive, just a lockable storage room next to the entrance

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    Room is not an option at enterance for me.

    Have you got an example that can be used in a garden?

    A shed big enough for 4 bikes in usable size to allow manouvre is not cheap.



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    This is something that I am thinking about as well.

    Decent internet connection is a must. Parking is an aspiration to have in flats but a must for family homes.

    In case of flats, do they prefer furnished, in your experience, Adam_?

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    Always furnished, everything laid on for them!

    Think of it as semi-serviced accommodation (pretty much a hotel) and you can't go far wrong.


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