Surely the route to solving the issues is the property industry lowering their profit and financial return expectations to leave a legacy. If homes were built with more floor space then it would offer better quality of life for the owners and the renters. This would lead to a happier population and facilitate downsizing for the older generation and up sizing for the next generation.
I am convinced that property players do not put themselves in the shoes of the person they are building for. I have previously commented about how many property people have lived in or are still living in flats. Well of the new breed of micro flats and co-living, how many of the developers, architects and advisers live in their product? It is very easy to run around in a palatial home opining and delivering homes that you wouldn’t want to live in. Not being the target demographic doesn’t really wash on this.
While there is limited choice and lack of options, I would like to think that the property industry could rise to the challenge and be comfortable with lower value per square metre in order to deliver homes and communities that our children and grandchildren will look proudly upon. Not that another generational mistake has been made!