Buying your own home is seen as a financial milestone for many people and offers a sense of security.
But the tide could be turning, with research from financial advice firm, Killik & Co, finding for millennials – those born between 1981 and 1996 – homeownership is no longer the ultimate financial goal.
Polling by the firm found 20 per cent of those in this demographic think buying property is unrealistic or unattainable, while 10 per cent of younger millennials aged between 29 and 30 associate it with debt and financial risk.
Franklin Umenze, a doctor living in Yorkshire with his wife and four children, is one of those millennials not prioritising home ownership.
He’s 41, and says he doesn’t see himself buying a home, with the family renting a three-bedroom house for £950 a month and Franklin opting to invest in the stock market rather than save up for a deposit.
