When it comes to savings goals, millennials it seems are keen to do things like build up an emergency fund, achieve financial freedom and travel the world, meaning that a deposit for a property comes further down their priority list in fifth position.
Although 95% would like to buy a house at some point in the future, 31% do not think it will happen and 29% are only hopeful about their chances.
Millennials often favour experiences over the acquisition of tangible assets like a home. By contrast, baby boomers often put buying a property at the top of their savings list. Baby boomers can find themselves financially stretched through giving away cash to help their children and grandchildren buy property; unsurprisingly, the Bank of Mum and Dad is now classed as a top ten UK mortgage lender.
