According to a recent Ipsos MORI survey commissioned by Shelter and British Gas three-quarters of young Britons believe they are unlikely to ever own their own home and instead are reconciled to being tenants for the rest of their lives.
The younger generations are saying that despite government schemes to help them on to the property ladder, they are finding it’s lot tougher than it was for their parents’ generation.
The research included 1,906 people aged between 25 and 34 and found that although a big majority wanted to live in their own home, they recognised this was unlikely as they are renting.
Campbell Robb, chief executive of Shelter, had said:
“The fact that vast numbers of people fear their grandchildren will never have a home to put down roots in highlights the sad truth that this country is once again at the mercy of a housing crisis. While we have made progress over the last 50 years, our current housing shortage means millions are facing a lifetime of instability and, understandably, people are giving up hope. But if our history tells us anything, it’s that together we can make things change.”
He says the current housing market is “dysfunctional” with “graduates starting on £40,000 to £45,000 in London, and they don’t take the jobs because they can’t afford to live in London or can’t afford to buy because it is so expensive. The cost of buying a home just bears no relation now to what people can afford.”
75% of young say renting is the only way… – https://t.co/hXin6Vs3L9
— LandlordZONE (@LandlordZONE) March 29, 2016