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Thu, 20 Aug 2026

Thu, 20 Aug 2026 Millennials are struggling to buy a home - but is it actually getting easier?

Twenty-somethings are much less likely to own a home than previous generations. But data suggests things may be turning a corner.

* The chance of owning your own home in the UK has decreased over time, with those born in the mid-1990s having a 25% chance compared to almost twice as likely for those born in the 1990s and even more so for previous generations.
* Property prices have outpaced incomes across many decades, with house prices rising by £80 per egg since 1955.
* The lack of new homes being built is a major issue, with only 208,000 added last year compared to an estimated need of 300,000 per year in England alone.
* Inflation has contributed to the cost of building materials such as timber, steel, and plasterboard rising by 15% in some cases since the pandemic.
* Even before the pandemic, construction firms struggled with a lack of skilled staff, exacerbated by Brexit.
* The deposit needed to buy a house has reached tens of thousands, making it hard for young people to save.
* However, house prices have risen more slowly than wages in recent years, making it easier to save and get a mortgage.
* Some lenders will now take smaller deposits and offer larger loans with longer repayment times.
* To make getting on the housing ladder as easy as it was for previous generations, we need more homes. The government has introduced plans to streamline planning processes and allow more homes to be built on the green belt.