Home ownership attitudes and aspirations:
A survey of London and the South East
Home ownership remains the ultimate goal for ‘Generation Rent’ in London, yet with a growing market for rental ‘co-living‘ schemes and a drop in the financial support available from Mum and Dad, it is no wonder that fewer 18-44 year olds now believe they will be buying a home in the next five years.
This is one of the findings from Collyer Bristow’s second annual Home Ownership Attitudes and Aspirations report. The report, detailing the opinions and beliefs of 564 18-44 year olds, shows changing trends in home ownership for London and the South East.
Interesting findings from the report:
- 52% of non-home owners surveyed hope to purchase a home in the next five years, compared to 62% in 2018.
- 40% do not believe home ownership is a realistic goal in the next five years, compared to just 29% in 2018.
- The ‘Bank of Mum and Dad’ helped 45% to buy a home, up from 32% in 2018.
- Only 25% of those expecting to buy in the next five years believe mum and dad will be able to help.
- There has been a 100% increase in the number of survey respondents living in a co-living scheme between 2018 and 2019.
- Price (77%) trumps location (59%) when choosing a home.
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