Perspectives 2019

An ageing population The UK population is ageing. In the 40 years from 1974 to 2014, the proportion of people aged 65 and over grew by 47% to comprise nearly 18% of the population. This trend is only set to continue, as England’s regions will see their population aged 85 and over double over the next 20 years. Here, we look at three sectors where this will have an impact. Residential Demographic changes present particular challenges when it comes to meeting the needs of older people. Ageing is not an issue in itself; many people can live well and stay in their homes without any risk to their health. However, others may find that moving into a retirement home leads to an improved quality of life, with a reduced risk of accidents and falls due to better facilities that cater to the needs of older people. Unfortunately, there is currently a shortage of such purpose-built homes. Although around 6,000-7,000 are being completed each year, we are not at present building enough to meet future demand, and the pace of construction needs to quicken. We take a look at the major demographic changes influencing alternative real estate: . An ageing population This age group will double in size in England’s regions over the next 20 years. People aged over 85 will grow by over one million. Millennials By 2030, the oldest millennials will be nearly 50 years old. They will be the largest demographic in most developed countries. Generation Alpha 2.5 million Generation Alphas (children of millennials) are born every week. By 2030 the oldest will be starting university. 2x 50 yr 2.5 m PERSPECTIVES 04 COVER STORY