• What will the UK’s homes look like in 5, 10 and 20 years’ time?

    April 30th 2018. Posted in Home Insurance

    • Homes are becoming increasingly multi-purpose, with a quarter of people now viewing them as places of work as well as leisure;
    • Technology will ramp up in 5 years’ time, with 26 per cent believing all homes will include smart technology;
    • Sustainability is the name of the game in 10 years’ time, as 20 per cent expect houses to have access to driverless vehicles and be made of sustainable materials;
    • AXA is sponsoring the Grand Rooms Sets at Grand Designs Live where five designers will push the boundaries of how adaptable traditional living spaces can be.

    With the government pledging to build 300,000 new homes a year1, AXA Insurance has asked the public what they think homes will look like in 5, 10 and 20 years’ time. As part of its campaign, AXA is also sponsoring the Grand Room Sets feature at Grand Designs Live in London, May 5 - 13, where five designers will transform their spaces with inspiring and ambitious ideas to help people reimagine their homes.

    Homes of Today – A mishmash of work and leisure

    Twenty years ago most people thought of their homes as a place they go at the end of the day to unwind and catch up with their families, however today a quarter of people use them as places of work as well as leisure. Thirty-six per cent of people2 feel that there are more people working from home today compared to ten years ago, while 64 per cent think that even more people will be working from home in the future.

    However, even though there are now more people working from home than ever before, only a few of us have dedicated spaces to do this work in. Only a third (29 per cent) of people work in a dedicated office at home, while another third (32 per cent) work in their living rooms and 15 per cent in their bedrooms. Most people work on their laptops (69 per cent), while less than half have a dedicated desk, office chair or monitor!

    Homes in 5 years’ time – Technology becomes more widespread

    We often forget how quickly technology can become commonplace, however considering the fact that the iPhone came out less than 11 years ago, it’s not surprising that over a quarter (26 per cent) of respondents believe the UK’s homes will include technology such as Hive and Alexa in the next five years.

    What’s more, 27 per cent believe there will be smart screens (e.g. TV screens you can use to call people etc.) throughout their homes in the next 10 years, while 25 per cent think people will have the ability to charge electric cars at home instead of having to go to charging points.

    Homes in 10 years’ time – The sustainability era

    Conversations surrounding sustainability are becoming increasingly prevalent as the world envisions the type of environment they want to live in in the future. Concerns over sustainability appear in respondents’ hopes for homes in 10 years’ time, with almost 20 per cent thinking they will be made mostly of sustainable materials (e.g. solar panels, flood resistant technology etc.) and will also be better equipped to withstand environmental factors such as storms, rain and wind.

    Meanwhile, one in five believe homes will have access to driverless cars in the next 10 years – just 5 years after having the ability to charge electric cars at home. There is a good reason why sustainability is so important in the future: a quarter of people (24 per cent) think the UK’s electricity network as it currently stands would struggle to keep up with demand in 10 years’ time.

    Homes in 20 years’ time and beyond

    Along with determining what homes will look like in 5, 10 and 20 years’ time, there were some general observations from respondents regarding on-going trends that we are seeing today and expect to carry on in the future. At the moment, only 20 per cent of people think homes have the ability to change rooms depending on their purpose (work, leisure, relaxing etc.), however 43 per cent think they will have this ability within the next 20 years.

    “Throughout the decades AXA has seen a number of changes in the way people live their lives and the homes they reside in. Today more than ever, people are starting to use their homes for multiple purposes and are relying more heavily on new technology, and this is set to continue. In the next five, ten and twenty years we expect homes to change once again, but into what is a conversation we all need to have.” Gareth Howell, Managing Director, AXA Insurance

    Other predictions include:

    • Nineteen per cent of people think UK homes already have more people living in them; this increases to 38 per cent within 20 years’ time.
    • Twenty-three per cent of people think UK homes already house multi-generational families; this increases to 35 per cent within 20 years’ time.
    • Twenty-five per cent of people think UK homes are already smaller in size in general; this increases to 31 per cent within 20 years’ time. A quarter of people also think homes will never become larger in size again.
     
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    Notes for Editors 

    1 Budget 2017: Plans to build 300,000 homes a year. BBC News. Retrieved April 2018: http://www.bbc.co.uk/news/business-42043084  

    2 Figures obtained from research commissioned by AXA of 3000 UK adults. The research was carried out by OnePoll in February-March 2018.

    ABOUT THE AXA GROUP

    The AXA Group is a worldwide leader in insurance and asset management, with 165,000 employees serving 107 million clients in 64 countries. In 2016, IFRS revenues amounted to Euro 100.2 billion and IFRS underlying earnings to Euro 5.7 billion. AXA had Euro 1,429 billion in assets under management as of December 31, 2016. In 2016 Interbrand ranked AXA the 1st insurance brand worldwide for the 8th consecutive year.

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    axa.com/en/about-us/strategy-commitments 

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    axa.com/en/investor/sri-ratings-ethical-indexes  

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