Residential and development

Survey reveals 45% of millennial homeowners recommend renting over buying

By 2018-06-26T10:48:00

House hunters

Source: Shutterstock/Solis Images

Almost half of millennial homeowners would advise their peers not to buy a home, according to new research.

Some 45% of homeowners surveyed in a poll of 3,000 21- to 35-year-olds commissioned by build-to-rent developer and manager Get Living say they would recommend that their friends carry on renting.

Cost is the main reason – 57% say they underestimated the cost of buying their first home and 45% say their monthly costs are much higher than if they were renting, according to Millennial Living in 2018: Insights for the UK ‘build-to-rent’ (BTR) sector.

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