Who lives in Mayfair?
While Mayfair has been historically known as a place where the rich, elite and famous live and play, today things are changing. The expectation of lifestyle has changed, and so have the standards of different life stages.
The Mayfair neighborhood is evolving with these changing times and it is now an urban oasis that is increasingly appealing to a younger, more hip crowd. Those under the age of 25, otherwise known as Generation Z, will comprise 30 percent of the region’s population by the year 2038. Read on to see how Mayfair rises to the challenge of changing with the times.
What is Mayfair?
Mayfair is a neighborhood in London bordered by Park Lane, Oxford Street, Regent Street, and Piccadilly. It takes its name from the annual two-week May Fair, which used to take place on what is now Shepherd Market and Curzon Street. This fair took place between 1686 until 1764 when it was banned from the location by the residents, who felt that the fair lowered the standing of the neighbourhood.
Now, as one of the city’s most exclusive addresses, Mayfair has been home to its fair share of famous faces over the years. Queen Elizabeth II was born at 21 Bruton Street and lived in Mayfair as an infant. Winston Churchill also lived in various properties in the neighbourhood during World War II. He even made the underground station in Down Street his bunker. Other British prime ministers lived in Mayfair over the years since then.
Furthermore, the original Curzon cinema hosted private screenings for US General D. Eisenhower, who would become President, in 1942. The second President of the United States, John Adams, lived in Mayfair from 1785 to 1788 in a house that still stands. Jimi Hendrix lived in Mayfair in the 1960’s. You can find all of the famous residents of the area with blue plaques decorating its streets. Everyone from Florence Nightingale to Beau Brummell is found here. Also well know for it's Mayfair casinos such as The Palm Beach Casino, Les Ambassadeurs Casino and Crockfords.
Who Lives Here Now?
It isn’t the same ultra-luxurious neighbourhood anymore. It has changed, becoming younger and more dynamic. The city and its real estate market is pursuing this, with helpful guides to areas of the region that are popular with young people, adults, and older people. A Mayfair estate agent will entice you with a home that fits your sensibility.
The youngest generation is Generation Z, those who are less than 24 years old. They have an entrepreneurial spirit and are good with technology. To live in Mayfair, they are likely newly enriched by the industry. They look for homes with smart technology and fitness amenities and have a high population of single residents and renters. They typically want nightlife, fashion, and retail. Mayfair has all of those things readily available.
Millennials currently make up the largest generation, people between the ages of 25 and 39. Typically they crave a high performance lifestyle and want to live and work in the centre of their cities. Experiences are important to Millennials, as important as work and leisure. Mayfair offers them the ability to work, rest, and play within walking distance of their property. 22 percent of Mayfair residents walk to work.
Generation X, those aged between 40 and 54, like luxury. Luxury is good taste. They are typically well-qualified, professional, and employed by a reputable employer. It is likely that they are settled home owners. Mayfair provides the work-life balance that this generation aspires to, with the lure luxurious fine dining and living.
Finally, 20 percent of residents across Mayfair are Baby Boomers, those aged between 55 and 73. Privacy, security, and relaxation are important for them. Their properties are more likely to be traditional than contemporary. This is old money, with much more disposable wealth. Living in the country is no the retirement dream for many Baby Boomers. Instead they dream of cultural and leisurely pursuits and access to options.
Whoever you are, however old you are, whatever you want, most people would like to live in Mayfair. The neighbourhood seems to know that. They are pursuing all generations in their bid to modernise the area and continue bringing money and prosperity to this little pocket of historical London.
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