WHO LIVES IN MAYFAIR?2019 UPDATE

no-one knows mayfair better than wetherell

Today’s global citizens have thrown off traditional expectations of lifestyles and life-stages.Mayfair is evolving to match these new ways of living. This urban oasis is increasingly appealing to a

younger crowd, with Generation Z (those currently under the age of 25) set to comprise 30% of itspopulation by 2028. All residents are demanding more from life and more from Mayfair.

We explore how Mayfair rises to the challenge.

The 1790 Census of householders on the Grosvenor Mayfair Estate detailed 129 persons of Title, 35 Members of Parliament and 112 Professionals.

They represented only 18% of the population whilst ‘Trade’ represented nearly 60% (890 tradesman) supplying the Aristocracy and Professionals with Food & Drink, Dress & Fashion, Building, Transport and others.

A more recent survey by Experian (the credit reporting company) of today’s modern Mayfair showed that those of ‘Affl uent Wealth’ now represents 70% of the Mayfair population compared to 7% in ‘normal’ areas of London.

In the late 19th Century it was said that the world was ruled from the homes of Mayfair – and now today – the people who rule the world (both politically or fi nancially) want to buy a home in Mayfair.

DEMOGRAPHY DEFINES DESTINY IN MAYFAIR

We live in a modern ‘Heterogeneous’ Mayfair – a brand

location which is diverse in character and content

bringing residential life back to mayfair

GENERATION Z

Born from 1995, currently less than 24 years old

MILLENNIALS

Born between 1980 and 1994, currently aged 25-39

� Tech-savvy and entrepreneurial spirit

� This generation is more concerned with the product than the experience but will seek out the ‘exclusive’

• Looking for a home with smart technology and fi tness amenities� High proportion currently single and renting

• Currently Mayfair’s most signifi cant generational type (35%)� Driven and highly educated with high performance careers and

high performance lifestyle

• Want to live and work in the centre of cities� Experiences are as important as the job or leisure activity itself

Fulfi lls need for exclusive nightlife, fashion and retail.May be studying at nearby UCL or LSE.

The ability to work, rest and play within walking distance of their own home.

ENTREPRENEURIAL SPIRIT HIGH PERFORMANCE LIFESTYLE

WHY MAYFAIR? WHY MAYFAIR?

FO

R

SALE

FO

R

SALE

FO

R

RENT

FO

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RENT

North Row – £1.275M Balfour Mews – £3.65MPark Lane – £675 pw Mayfair Row – £4,500 pw

MORE THAN

TWICE

55% 30% 22%31:1

SINGLEthat of a non-residentBond Street customer

Local residentaverage spend

of Mayfairhouseholds are

of Mayfair’s population will be

GENERATION Z

of Mayfair residents

WALK

By 2028

to workup from 13% in 2018

27%of residents are

managers, directorsand senior offi cials<20% across Westminster

Prime London ratio

319:1

Restaurant ratioin Mayfair

People per restaurant( )

no-one knows mayfair better than wetherell

GENERATION X

Born between 1965 and 1979, currently aged 40-54

BABY BOOMERS

Born between 1946 and 1964, currently aged 55-73

� For this generation, luxury equates to good taste, whether in property or experiences

• Well-qualifi ed and professionally employed, they demand high quality services

� Most likely to be settled home owners

� 20% of residents across Mayfair are Baby Boomers

� Security, privacy and relaxation are key

� Properties more likely to be traditional rather than

contemporary in style

� High levels of disposable wealth, more likely to be homeowners

A quality work-life balance is the aspiration of this generation. Like Generation Z, the lure of the luxury quarter appeals to

these residents, along with the fi ne dining and hospitality prevalent across Mayfair.

Living in the countryside is no longer the retirement dream.Mayfair offers the easy access to cultural and leisure pursuits

demanded by this generation. Luxury housing options are crucialto retaining this growing segment moving into retirement.

LUXURY & GOOD TASTE EXPERIENTIAL LIVING

WHY MAYFAIR? WHY MAYFAIR?

FO

R

SALE

FO

R

SALE

FO

R

RENT

FO

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RENT

Carlos Place – £7.95M Brook Street – £9.5MGrosvenor Square – £4,250 PW Hill Street – £2,500 pW

28% 83%1 in 945%of London’s growth in numberof owner-occupiers

starred restaurantsare in Mayfair in next 10 years

of residents areemployed in fi nancial,

real estate andprofessional services

of Mayfair households are

older professional families or detached

homeowners

MICHELIN OVER 55Stheirproperty outrightOWN

15%Less than

tomile

Theatreland

ONE

WEST END

Mayfair: “Containing more intelligence and human ability – to say nothingof wealth and beauty – than the world has ever collected in one space before”

Said greatest of all Regency wits, writer, Anglican cleric and canon of St. Paul’s - Sydney Smith (1771-1845) over 200 years ago.

102 Mount Street . London . W1K 2TH T: 020 7493 6935 E: mail@wetherell.co.uk

wetherell.co.uk

bringing residential life back to mayfair

© June 2019

HOTELSFIVE STAR

78In Mayfair across 50 companies25ROYALWARRANTS

THE (NO LONGER) SILENT

GENERATION

Born pre-1945, currently aged 74 and over

FO

R

SALE

FO

R

RENT

� Defying the boundaries of what is expected of this generation

� Community, an active lifestyle and sociability are keyto a long and healthy life

� Many are travelling and seeking more adventurous holidays;looking for a place they can lock up while away

Mayfair is the ultimate liveable, walkable community.Luxury apartments with concierge and services

combine sociability with independence.

ACTIVE & SOCIABLE

WHY MAYFAIR?

Davies Street – £850,000 Mount Street – £1,000 PW

Micro Generations

& Cuspers

Of course, not everyone fi ts into a box. With Mayfair home to over 42 nationalities and appealing to both the young and the young at heart, we are seeing the rise of cross-over generations.

XennialsThis micro-generation bridges the perceived gap between Generation X and Millennials. Typically born between the late 1970s and early 1980s. Xennials are described as having had an analog childhood and a digital adulthood.

Minion ZThose born in the transition period between Generations Y and Z had access to the internet from an early age and are considered by many to be digital natives, while still retaining some or few memories from before the rise of the World Wide Web. Many of them thought they were part of Generation Y before discovering otherwise.

FIT MAYFAIRNowhere is the blurring of the generations clearer than in the proliferation in gym and fi tness studios in Mayfair and in the demand for fi tness facilities in rental and sales properties.

PHYSICAL OR GYM ACTIVITY.

60%

This compares to a gym usage rate of just 15% in the rest of the UK

adults in districts such as

MAYFAIR & THE CITY

2.5 hours a week doing

spend at least

Source: Census 2011, CACI, CBRE, London’s Luxury Quarter, GLA, Expedia, Transport for London, Luxury Portfolio International, Michelin, Cushman and Wakefi eld, Google maps, Public Health England, State of the UK fi tness industry 2018.

Analysis, editorial and charts by Dataloft.

MAYFAIR &

THE CITY

REST OF

THE UK

60%

15%

CLARGES MAYFAIRCross Generational Appeal with Discretion,

Health Facilities and 5 Star Service

CROSS

GENERATIO

NAL

APPEAL