Move over millennials: Generation Z is coming for your real estate

More than half are looking to buy a home in the next few years

Millennials might want to snap up a piece of real estate soon, as research shows that the next generation is moving into the market.

More than 50 per cent of college-aged kids, dubbed generation Z, are hoping to buy a home in the next few years, a survey from Re/Max of Western Canada found.

The real estate agency asked 18-24 year olds living in the Greater Vancouver and Greater Toronto areas how they felt about the housing market.

READ MORE: B.C. real estate sales slow down for the summer, group says

READ MORE: Two-thirds of renters want to see a housing crash in Metro Vancouver: poll

The survey found that 75 per cent of Vancouver-area generation Z are stressed about buying a home, in comparison to 71 per cent of those in the Greater Toronto area.

Despite that, nearly two-thirds of the next generation thought buying a home was “a good plan for the future,” while 27 per cent found it to be “a good investment.”

However, it also found that 57 per cent of Greater Vancouverites felt undereducated about home buying.

“Gen Zers are interested in learning more, and a greater effort needs to be made to educate them about the benefits and potential risks of home ownership,” said regional executive vice-president Elton Ash.

“While the survey showed interesting trends across two of the hottest markets, the Gen Zers we speak to are eager to become informed and excited about the future of home ownership.”


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Homicide team investigating after body found in Abbotsford

Resident finds deceased person on Keeping Road on Sumas Mountain

Fraser Valley Stage presents Mamma Mia!

Production comes to Abbotsford Arts Centre from Feb. 19-29

Over a dozen birds found mysteriously dead on Abbotsford road

Ministry of Agriculture notified of the strange occurrence on No. 4 Road

SLIDESHOW: The 8th annual Pet Lover Show at Abbotsford’s Tradex

RCMP service dogs, President’s Choice SuperDogs, the Catoro Cat Cafe and more

Abbotsford Islamic Centre hosts Open Mosque Day

Event on Saturday, Feb. 22 includes tours and kids’ activities

VIDEO: Minister reports ‘modest progress’ after blockade talks with First Nation

Wet’suwet’en hereditary chiefs say Coastal GasLink does not have authority to go through their lands

Murder of sex worker exposes Canada’s hypocrisy on prostitution: advocate

A 2014 law made purchasing sex or benefiting from the selling of sex illegal

Wet’suwet’en return to northern B.C. forest road pipeline workers move through: First Nation

Opponents of a pipeline who support the Wet’suwet’en hereditary chiefs have reoccupied camps at centre of arrests

Wet’suwet’en supporters against pipeline block rail tracks in Vancouver, impacting Amtrak

Amtrak services cancelled, turning back at the U.S.-Canada border

BC Ferries gets injunction against demonstrations in solidarity with Wet’suwet’en

The preemptive injunction is a ‘last resort in the interest of public safety,’ spokesperson says

B.C. men arrested after theft of heavy equipment leads to highway blockade

One man surrendered to police while the other was taken into custody the next morning, RCMP say

PHOTOS: Trans Mountain hosts mock oil spill response practice in Kamloops

Practice comes after an excavator accidentally struck the pipeline near Jacko Lake in mid-February

Federal Indigenous services minister meets First Nation at rail blockade

Blockade on Tyendinaga Mohawk territory near Belleville, Ont., is in its 10th day

Most Read