Over the Easter weekend, the Halifax brought out the latest instalment of its Generation Rent research, which it has been conducting with NatCen. The survey of 32,000 20 to 45-year-olds found that more people no longer want to own their own home – about a quarter of those who aren’t homeowners already. This number corresponds to our poll finding that two thirds of renters want to buy but cannot.
Some have ascribed the trend to young people being more content to rent for the long term, and the research finds that fewer people (though still a majority) regard renting as a barrier to settling in an area or raising a family.
But the findings are not evidence of increased satisfaction among renters; they’re a collapse in confidence that they will ever own their own home. As house prices rise by double-digit inflation, home ownership is a distant dream for increasing numbers of people, and high rents make saving for a deposit more and more difficult.