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Share of young adults in the United Kingdom (UK) in 2023, by attitude toward buying a house

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Source

Release date

October 2023

Region

United Kingdom

Survey time period

2023

Number of respondents

3,000 respondents

Age group

18-35 years

Special properties

UK adults who are yet to purchase a house

Citation formats

Homeownership plans of young adults in the UK in 2023

Published by ÌÇÐÄÆƽâ°æ Research Department, Feb 15, 2024

The majority of young adults in the UK were still committed to buying a property in 2023, with ** wanting to get on the property ladder as soon as possible. Nevertheless, ** percent of respondents shared that their home buying plans were on hold, while ** percent admitted that they need more monetary support from family, friends, and lenders. Since the beginning of the coronavirus pandemic, house prices have soared, markedly outpacing income growth. Furthermore, interest rates have doubled since 2021, resulting in a substantial increase in the cost of buying a home. 

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