• About this study

The reality of generation rent

Perceptions of the first time buyer market

About this study

The study was commissioned by Halifax to explore the perceptions and views of people aged 20 - 45 years on the first-time buyers market.

Our study led to the identification of 'generation rent' - a generation with no realistic prospect of owning their own home in the next five years.

Some key findings from the full report are that:

77% of non homeowners want to own their home, while

95% say that they have no spare cash, no interest in saving for a deposit or are  trying to save but failing to do

Potential policy impact

The implications of Generation Rent are socio-economic. There could be fewer homeowners able to buy which could result in a slowing down in the housing market. It could open up a widening of the wealth gap that already exists between home-owners and non home-owners, particularly as people in Generation Rent risk insufficient finances at retirement.

Our methods

This study is based on the results of an online survey of 8,000 20 - 45 year olds, commissioned by Halifax and carried out by Populus between April 1st and 10th 2011. Respondents were a mix of members of Populus's online panel, PopulusLive, and people who were recruited using Random Online Sampling. Following fieldwork, respondents were weighted according to their age and to the gender, region, and socio-economic grade.

The survey questions were informed by a number of focus groups carried out in London and Manchester in March 2011. 

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