Millennials and Gen Z cling to homeownership dreams

Despite major obstacles such as rising house prices - which increased to an average of £271,079 in August - and mortgage payments that consume 44% of first-time buyers' salaries, Millennials and Gen Z remain strongly committed to homeownership. Research from fintech Revolut found more than 35% of Gen Z and 40% of Millennials consider property the most effective way to grow wealth. Older generations, by contrast, while holding significant mortgage-free property assets, are less likely to see homeownership as the sole route to financial security, favouring diversified strategies such as cash savings (25%) and stock market investments (24%). The research also shows Millennials are 20% more likely to hold their investments through market downturns, reflecting the importance of early and diversified investing, according to Revolut UK chief executive Yana Shkrebenkova. 

City AM (09/09/2025)