Despite persistent narratives about the challenges younger generations face in the housing market, the aspiration to own a home among 16–34-year-olds remains remarkably strong. According to the latest English Housing Survey, 69% of people aged 16–34 expect to buy a home eventually—the same proportion as a decade ago in 2014–15. This ambition is also reflected in rising levels of homeownership. Among households headed by a 16–34-year-old, 42% are now owner-occupiers, up from 31% ten years ago. Over the same period, the proportion privately renting has fallen from 50% to 43%, suggesting that more young adults are successfully making the transition from renting to homeownership.
Although homeownership remains an important goal, many young people now expect it to take longer to achieve. Of those who plan to buy a home, 49% believe it will take five years or more, while only 11% expect to purchase within the next one to two years. For those who have already bought a home, personal savings remain the primary source of their deposit, with 78% using their own savings. Family support also plays a significant role, with 29% receiving a gift or loan from relatives, while 21% used proceeds from the sale of a previous property.
It is important to note that these figures relate to households headed by a 16–34-year-old who are already living independently, rather than all individuals within this age group. Overall, the findings suggest that, despite affordability challenges and longer expected timescales, the ambition to own a home has remained unchanged, and a greater proportion of young adults have achieved homeownership than was the case a decade ago.