Also known as Generation Y, Millennials currently make up the largest age-range population in the UK, with Generation Z following just behind.
Despite the cost of housing, there is still a high demand for affordable homes for first time buyers for both generations. Following the COVID-19 pandemic, younger homebuyers are looking for some security.
What do Millennials want from a new home?
Those born to between 1981 and 1996 are considered Millennials. The older of this age bracket will be in their early forties and likely to have young families, while the youngest are mid-twenties looking to buy their first home and settle down. This age bracket usually looks for:
What does Gen Z want from a new home?
Those born between 1997 and 2012 are considered Gen Zs and will be in their early to mid-twenties. Due to the high use of technology, and on-demand information, Gen Z will typically be looking for:
Both generations would like as much information about a property as possible to reassure them, with access to a lot of this information being online. Interestingly, according to Architectural Digest, 39% of Millennials say they'd feel comfortable buying a home they'd only ever viewed online.
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