New Study Shows 'Generation Rent' Are The Ultimate House-Hoppers

Monday, 18 April 2022 06:00

By Dominic Kureen @WriteOnDom

The housing market has been a lot less kind to Gen Z and Millennials than it was to their parents.

Property website Spareroom surveyed almost 5,000 UK renters, and 2,000 adults over the age of 50, to reveal some interesting stats on house-hopping within generations.

The study found that a quarter of Millennials (people born between 1981 and 1996) and Gen Z (1997-2012) have already moved at least 10 times since leaving home.

Collectively known as 'Generation Rent', they’ve already lived in twice as many homes as their parents will over their lives.

This just shows how much the housing market has changed from generation to generation.

The study also found that a third of Gen Z/Millennials have already lived with 15 or more flatmates, excluding family members or partners.

In contrast, almost half of their parents’ generation have never lived with anyone other than immediate family or their partner.

A spokesperson for Spareroom said:

"'Generation Rent' are taking longer to settle down, buy a house or start a family. Not only that, houses are so much more expensive than they used to be.

"Therefore, people are renting for longer. When our parents’ generation bought their first place, the average house cost 3-4 times the average salary, today it’s more like 10-12 times the average salary."