The majority of young adults in the UK were still committed to buying a property in 2023, with one in three wanting to get on the property ladder as soon as possible. Nevertheless, 22 percent of respondents shared that their home buying plans were on hold, while 18 percent admitted that they need more monetary support from family, friends, and lenders. Since the beginning of the coronavirus pandemic, house prices have soared, markedly outpacing income growth. Furthermore, interest rates have doubled since 2021, resulting in a substantial increase in the cost of buying a home.
Share of young adults in the United Kingdom (UK) in 2023, by attitude toward buying a house
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Halifax. (October 12, 2023). Share of young adults in the United Kingdom (UK) in 2023, by attitude toward buying a house [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1250911/home-ownership-attitudes-great-britain-uk-by-region/
Halifax. "Share of young adults in the United Kingdom (UK) in 2023, by attitude toward buying a house." Chart. October 12, 2023. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1250911/home-ownership-attitudes-great-britain-uk-by-region/
Halifax. (2023). Share of young adults in the United Kingdom (UK) in 2023, by attitude toward buying a house. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1250911/home-ownership-attitudes-great-britain-uk-by-region/
Halifax. "Share of Young Adults in The United Kingdom (Uk) in 2023, by Attitude toward Buying a House." Statista, Statista Inc., 12 Oct 2023, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1250911/home-ownership-attitudes-great-britain-uk-by-region/
Halifax, Share of young adults in the United Kingdom (UK) in 2023, by attitude toward buying a house Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1250911/home-ownership-attitudes-great-britain-uk-by-region/ (last visited November 10, 2024)
Share of young adults in the United Kingdom (UK) in 2023, by attitude toward buying a house [Graph], Halifax, October 12, 2023. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1250911/home-ownership-attitudes-great-britain-uk-by-region/
