Millennials are increasingly packing their city bags and heading home to live in the suburbs with their parents and other relations, says Berry Everitt, chief executive of the Chas Everitt International property group.
This migration is not only about affordability but about having bigger living spaces in the company of people they love.
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“Millennials, now aged between about 26 and 40, are renowned for rejuvenating many city centres around the world as they fled from the suburbs a decade ago. They went in search of the live-play-work lifestyle in trendy lofts and high-rise apartments located close to coffee shops and restaurants, galleries and theatres, gyms, artisanal bakeries and handmade clothing and jewellery outlets, as well as their offices.
“But with the advent of the Covid-19 pandemic almost a year ago, many found themselves stuck in small apartments and townhouses unable to enjoy their previous very social lives outside these spaces.”
Cabin fever when offices and businesses were mainly shut and worry about their elderly relatives prompted many millennials to head back to the suburban environments of their youth. Everitt says they have either moved back with their parents or pooled resources with other family members and purchased multigenerational properties.