Gen Z and Millennials are dominating the U.K. property market. Young British consumers were facing a cost of living crisis even before the pandemic, but the extra strain COVID-19 put on their finances has created an “ownership-obsessed generation,” according to a study from property concierge platform, Moveable. Young Brits don’t just want to own the homes they live in, they see property as an investment: 40% of 18-35-year-olds are looking to buy a house to develop in the next year compared to 14% of all Brits; 25% are looking to buy a house as a source of passive income in the next year (versus 14% overall); and 40% are looking to buy a house to refurbish for themselves in the next year (versus 15% overall). YPulse’s upcoming WE Buying Into Crypto and NFTs trend research shows 10% of young Europeans are investing in the real estate market. (The Mirror)
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