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Over half of young people say they will never buy a house

08 December 2010
Written by rosalind renshaw

More than half of young people believe they will never own their own property.

Discount website MyVoucherCodes polled a sample of 1,721 people between the ages of 16 and 21, all still living with their parents, and found that 58% think they will never buy a property.

Two-thirds said the main reason for this was because they could never afford a deposit.
 
The 58% of people who thought they would never own their own property were asked what they believed they would do instead of owning a home: 77% said they would always rent privately and 23% thought they would probably always rent a council house.

Those who stated that they would probably always rent privately were further questioned. While 37% stated that they preferred the idea of renting as it was less commitment, 48% admitted they ‘hated’ the idea, of renting claiming it was ‘just dead money’.

Of the total respondents to the study, 82% had concerns about getting on the property ladder.

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