Top 10 Leisure Activities: What Are They, and Can They be Targeted?

We all like our downtime. We wouldn’t cope without it. But there are countless leisure activities out there to choose from, which can create headaches for property investors looking to incorporate these preferences into their strategies.

Is it worth investing in an ice-rink, if it’s actually bowling that’s all the rage? A residential purchase near a wild swimming[1] hotspot may seem sensible but with colder days approaching, could the nation’s swimmers soon be heading to their nearest indoor pool?

We thought we’d try and shed some light here. YouGov[2], our trusted research data and analytics technology firm, tracks the most popular activities among our population. We’ve analysed the top 10 leisure activities of Q2 2024, and explored what impact they may have on the property market, and/or investors.

Of course, these are just initial observations and brainstorms. But, hopefully, they may allow some property investors and landlords to better understand how they can pinpoint specific target markets.

1. Spending Time With My Family

The top spot is a wholesome one. One which, more so than anything else, is crucial for a healthy, happy life. Property investors can play an important role here.

We’re all aware of the supply and demand imbalance in the housing market. While complicated and multifaceted, it’s believed by most that there’s simply not enough homes out there to accommodate all those who want them. Property investors can help here, by delivering suitable homes to the market. Specifically, family-sized homes that can allow for true bonding and memory making.

Fortunately, new family-focused hubs may be on their way, creating opportunities for entrepreneurial investors. Labour is planning to build on the “grey belt[3]”, which could deliver new towns across the UK. According to Knight Frank, there may be at least 11,000 grey belt sites out there, which could accommodate 100,000-200,000 new family homes.

2. Using the Internet

We are in a digital age. There are few things we can’t do online. Banking, work, socialising – it can all be done from the palm of our hands.

Our own research also revealed just how important this is. Our latest Homebuyer Wishlist report showed that having strong broadband and mobile connectivity is of the utmost importance to buyers in the current market.

For property investors, it may be worth ensuring their assets offer the best access to the world wide web as possible. There’s a clear need for this too, with the UK’s collective phone signal[4] simply not being up to task for many of us.

3. Travelling

This may not solely concern travelling abroad. The pandemic led to the emergence of “staycations” and there may still be a market for this in the UK[5].

And while it’s true that the holiday-let market has faced pressure in recent months, investors in this scene are not completely devoid of options. There has been a rise in the number of holiday let mortgages in recent months[6], and some investors are finding ways to limit their tax costs[7].

Also, as we come out of summer, staycation demand may wane. This could result in price declines in the short-term, which may allow property investors to lock in bargains ahead of next year’s prime months.

4. Communicating with friends and family

Self-explanatory really. But even here, in such a broad category, it’s possible to factor in a property investment angle. Take older homeowners of retirement age. There is a rising number of older couples downsizing to find better, cheaper living arrangements[8].

There may be many factors playing into this, but a sizeable portion of these downsizers are likely trying to move closer to their family members, or cut down on their travel costs[9]. As grandparents long to be nearer to their grandkids, property investors may be able to help.

5. Walking

We’re spoilt for choice here in our green and pleasant land. The UK has no shortage of stunning landscapes, and accessible hikes.

There is Alfred Wainwright’s Coast to Coast path, Wales’s Storey Arms to Pen y Fan, Bannau Brycheiniog, Scafell Pike in the Lake District, and many more[10].

It’s even possible to target walking routes by season. Autumn is just around the corner, and Which?[11] has an entire list dedicated to the best Fall walks ideal for scenery, wildlife, and peace and quiet. Investing in a property along, or near these routes could be tempting for some investors.

6. Watching movies at home

Then, there are those who prefer cosy evenings at home. This choice taking its place in the top 10 leisure activities shouldn’t be entirely surprising. Netflix, Amazon Prime, Apple TV – they’re all battling it out to keep us glued to our screens as much as possible.

But we’re learning to at least make all this media consumption as palatable as possible. Obvious example: Home cinemas.

Globally, spending on home cinemas is set to rise from £20.2bn now, to £49bn by 2026[12]. Installing a home cinema, or at least making space for one, could tempt many a renter or buyer.

7. Listening to music

Another classic. Yet, one which has been given a new, very modern lease of life. Take smart speakers. As useful as they are, many people likely use them just to play their favourite playlists on repeat.

And chances are, plenty of residents will be doing this. In the UK, 73% of people had an Amazon Echo in their homes by 2023[13]. What’s more, the global smart speaker market is expected to grow at a CAGR of 25.60%, reaching $100 billion by 2032. In fact, the sales volume of the smart speakers industry worldwide has grown every year since at least 2019[14], and shows no signs of slowing down.

So, what does this have to do with property investors? Well, there may be rising demand for soundproofed homes[15]. With so many of us working from home, it may even be a necessity for some.

8. Spending time with friends

This is another obvious one to make the top 10 leisure activities list. However, it’s worth exploring where it is that people like spending time with friends. Where once we had sprawling offices and high street chains, we now often have crazy golf venues, food trucks, and rooftop bars.

Indeed, there may be new and exciting ways to target those looking for a bit of socialising in the commercial market. There may be your standard pubs and cafes. But there is also rising demand for axe-throwing, VR arcades, and E-karting[16].

9. Going to restaurants and cafes

We have become a nation of foodies. In major cities such as London, Manchester, and Liverpool – it’s quite possible to literally find cuisine from every corner of the planet. Amazingly, yet unsurprisingly, the value of the UK eating out market is set to grow to £100bn by the end of 2024[17].

Looking ahead, for those who may want to get ahead of changing market dynamics, Mintel[18] found that 72% of parents with children aged 16 and under are seeking small portions of adult dishes, 55% of under 35s would like to see the vitamin and mineral content of the food and drinks listed on menus, and the foodservice market size will reach £166 billion in 2028.

It may be worth looking into, or at least predicting, what may be the next big food trend. Will Hungarian goulash be a must-try next year? Or, could Brazilian feijoada become as commonplace as Chinese egg fried rice?

10. Watching movies on television

The final spot in the top 10 leisure activities list perhaps offers a lesson in what shouldn’t be invested in, as opposed to what could be. Although, we are not advising an investment in any one industry or property type. This blog is purely informative, and investors should seek professional guidance before making any purchase.

Evidently, with so many people streaming these days, cinemas are struggling. Cineworld itself, one of our biggest cinema chains, recently drew up plans to close a quarter of its 100 UK sites[19]. Also, cinema box office revenue across the industry haven’t receovered since at least 2010[20].

Hopefully, this all leaves property investors with plenty to think about. Even the most obvious, perhaps even mundane of leisure activities can be factored into a property investment strategy. We cannot help borrowers with their tactics but when they have them figured out, we’ll be there with tailored funding.