{"id":4079,"date":"2015-04-17T01:00:33","date_gmt":"2015-04-16T15:00:33","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=4079"},"modified":"2015-04-17T01:00:33","modified_gmt":"2015-04-16T15:00:33","slug":"hipsters-and-their-inner-city-lifestyle","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/hipsters-and-their-inner-city-lifestyle\/","title":{"rendered":"Hipsters and their inner-city lifestyle"},"content":{"rendered":"

 
\nHow do you define a hipster in the property investment sense? What turns a hipster on? Are there any signs that developers are taking these hipsters seriously?\u00a0In the newest edition of\u00a0Australian Property Investor<\/i>\u00a0magazine, Kieran Clair sets out to describe the hipster with the help of Bernard Salt<\/strong><\/a>,\u00a0demographer and partner at KPMG. Today Bernard is our guest.
\n <\/p>\n

Transcript:<\/h4>\n

Kevin<\/b>:\u00a0 According to Bernard Salt, demographer and partner at KPMG, hipsters are market leaders, a cross-section whose employment prospects and ideas will push capital city fortunes. In the May edition of Australian Property Investor<\/i> magazine, which is out now, Kieran Clair sets out to describe the hipster with the help of Bernard Salt.
\nBernard joins me now. Hi, Bernard. Thanks for your time.
\nBernard<\/b>:\u00a0 My pleasure.
\nKevin<\/b>:\u00a0 Bernard, how do you define a hipster in the property investment sense?
\nBernard<\/b>:\u00a0 I suppose hipster refers technically to a tribe of people who live that inner-city lifestyle. They tend to dress in black. The men have beards. They hang out in caf\u00e9s. A hipster might be a barista. They live that inner-city lifestyle where they might work in the creative arts or the knowledge industry. They\u2019re anything but suburban.
\nI think that\u2019s the point about a hipster. They\u2019re anti-suburbanists. That\u2019s probably a better way to describe them.
\nKevin<\/b>:\u00a0 Am I right or wrong in saying that the hipster could be the modern-day version of a hippie?
\nBernard<\/b>:\u00a0 A hippie was quite a powerful tribe. I\u2019m not sure whether the hippy focused in the inner city. I think you could actually find hippies anywhere in Australia. In fact, they embraced regional Australia, places like Nimbin and Byron Bay.
\nWhereas I don\u2019t think you\u2019d find hipsters in Nimbin. They die of lack of oxygen if they are any more than five kilometers from the CBD city center. They need to be near caf\u00e9s, bars, and restaurants, otherwise the poor creatures just can\u2019t survive at all.
\nKevin<\/b>:\u00a0 It\u2019s a great read in Australian Property Investor<\/i> magazine. It\u2019ll really open your eyes, too, about where it\u2019s going.
\nBernard, can you tell me what turns a hipster on?
\nBernard<\/b>:\u00a0 My logic is that what we\u2019re seeing over the last five or six years is the rise of what I\u2019d call the knowledge worker. These are people with tertiary education degrees. If you look at the type of sectors in the economy that are expanding, that are recruiting people, and providing prospects and a better capacity to take out a higher mortgage, then it\u2019s the knowledge workers \u2013 in health, in education, in professional services, in IT, as an example. Government administration is another. All of those jobs tend to be located in the CBD or in the inner suburb, and as a consequence, knowledge workers tend to organize their lives in and around the CBD.
\nI would define the hipster as a version of a tribe within the knowledge worker. As knowledge industries rise in the CBD and inner suburbs, the demand for knowledge workers and, therefore, hipsters will rise, as well.
\nKevin<\/b>:\u00a0 You hinted there in the earlier part of our discussion that they don\u2019t like the lack of oxygen once they get out of the city area. Are there other things that turn hipsters off?
\nBernard<\/b>:\u00a0 You would never find a hipster out in the wheatbelt of New South Wales, Victoria, or wherever. They don\u2019t do country towns, I don\u2019t think. You might find a couple in Byron Bay if it\u2019s a fashionable sea change destination. They might spend a few months there or whatever, but they are very urban.
\nIn fact, the unique thing about the hipster is that I think they are global. If you went to New York, go to a place called Williamsburg in Brooklyn, that is a hipster hot spot. If you go to London, have a look at Shoreditch in the East End, that is a hipster hot spot.
\nYou can tell if there are hipsters around. Go to your nearest caf\u00e9, and if there are smashed avocados on the menu, then you know you\u2019re pretty close to where the hipsters live.
\nKevin<\/b>:\u00a0 I get the impression that they like being connected. Has this got something to do with social media? Are they good at social media?
\nBernard<\/b>:\u00a0 Oh, very much. Social media, new technology, tend not to have kids. You can be groovy and all hipsterish with young kids, but the sad fact is that as soon as you have teenagers, from the age of 12 or 13, then you can\u2019t be a hipster anymore. I\u2019m sorry, but you morph into being a daggy dad the minute you have a 12-year-old.
\nKevin<\/b>:\u00a0 Not even if you wear the right clothes and grow a beard?
\nBernard<\/b>:\u00a0 You could wear the right clothes, you can grow a beard, you can do all those things. You can think you\u2019re being really hipsterish, but look, at the end of the day, you\u2019re just a daggy dad.
\nI think that the hipster dies around mid-forties. By your mid-forties, you tend to have young teenagers, and the minute you have young teenagers, you cannot, therefore, by definition be cool. You\u2019ve got to be daggy. Therefore, the hipster dies mid-forties.
\nKevin<\/b>:\u00a0 Are there any signs, Bernard, that developers are taking these hipsters seriously?
\nBernard<\/b>:\u00a0 I certainly do think that they are, very much so. I don\u2019t think that developers would use that term. They would say young corporates more likely, or knowledge workers. If you look at many of the apartment buildings that are going up in, say, Surry Hills in Sydney, in Docklands, or St Kilda Road in Melbourne, New Farm and West End particularly, in Brisbane, maybe Leederville in Perth, young corporates geared around this cosmopolitan New Yorkesque, Manhattanesque-type lifestyle. I think that the marketing of that product is very much geared towards a hipster aspirational lifestyle.
\nKevin<\/b>: There you go. The article is called \u201cHey man, do you dig it?\u201d
\nBernard<\/b>:\u00a0 That\u2019s not my title by the way.
\nKevin<\/b>:\u00a0 Oh, isn\u2019t it? I was going to ask you if that was yours.
\nBernard<\/b>:\u00a0 No.
\nKevin<\/b>:\u00a0 I\u2019d say Kieran Clair has come up with that one. That\u2019s a typical Kieran Clair that one.
\nBernard<\/b>:\u00a0 Exactly. It\u2019s the hipster change. Forget the sea change and three change. It\u2019s the hipster change. That\u2019s what that is.
\nKevin<\/b>:\u00a0 Do they ride bikes, by the way, these hipsters?
\nBernard<\/b>:\u00a0 They do. In fact, they ride fixed-wheel bikes, apparently. But yes, very much, very green, very tribal, very social media. They drink coffee. Smashed avocadoes, of course, all the latest foods. In fact, anything organic is very important. Quinoa salads. They know how to pronounce quinoa. They probably even know how to spell quinoa.
\nKevin<\/b>:\u00a0 I don\u2019t even know what quinoa is actually.
\nBernard<\/b>:\u00a0 Well, there you go. Kevin, you are clearly not a hipster.
\nKevin<\/b>:\u00a0 For sure. It\u2019s great talking to you, Bernard.
\nBernard Salt has been my guest. Thank you very much for your time.
\nBernard<\/b>:\u00a0 My pleasure.
\nKevin<\/b>:\u00a0 Hear the interview that I did with Bernard Salt in full, along with another that I did with Cam McLellan from Open Corporation about how you can build a property portfolio on an average wage. Now, both of those interviews are in a special podcast we produced for Australian Property Investor<\/i> magazine to celebrate the launch of their May edition. You\u2019ll find that in the API feature channel right here at Real Estate Talk.<\/p>\n","protected":false},"excerpt":{"rendered":"

  How do you define a hipster in the property investment sense? What turns a hipster on? Are there any signs that developers are taking these hipsters seriously?\u00a0In the newest edition of\u00a0Australian Property Investor\u00a0magazine, Kieran Clair sets out to describe the hipster with the help…<\/p>\n","protected":false},"author":176692471,"featured_media":4185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,25],"tags":[101],"class_list":["post-4079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-sponsored-channels","tag-podcast"],"yoast_head":"\nHipsters and their inner-city lifestyle - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/hipsters-and-their-inner-city-lifestyle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hipsters and their inner-city lifestyle - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  How do you define a hipster in the property investment sense? 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