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.

Just Posted

Surrey, Santa Claus is coming to town with lighted trucks

Special events in Cloverdale and Surrey Civic Plaza on Dec. 2

A ‘Peter Pan’-to opens in Surrey this week, and tickets are being snapped up

Show at Surrey Arts Centre is produced by FVGSS, A Musical Theatre Company

Fire destroys home in Surrey

Crews called at 3 a.m. Sunday for a residential house fire on the 12000-block of 100 Avenue

Mariners, Orcas win Fraser Valley volleyball championships

South Surrey senior teams to head to provincial championships next week

Alzheimer’s Society launches helpline

Toll-free phone line available for people with dementia and their caretakers

1st Indigenous woman to start Canadian airline looks to B.C.’s remote regions

Teara Fraser is the first Indigenous woman in Canada to start her own airline, called Iskwew Air

Canadian Armed Forces to change approach to sexual assault investigations

New program aimed at a more open and transparent process, will consult with civilians, health and law professionals

‘N’ driver clocked going 51 km/hr over the speed limit

Port Moody police say the car was sent to the impound lot

UPDATE: Death of 38-year-old Fernie man at B.C. coal mine under investigation

Vehicle collision occurred at approximately 10:45 a.m. Sunday morning

Breathing polluted air during pregnancy may increase odds of baby having autism: SFU study

Study looked at nearly all births in Metro Vancouver between 2004 and 2009

Six students arrested, charged in sex assault probe at Toronto all-boys school

The school’s principal, Greg Reeves, described the video of the alleged sexual assault as ‘horrific’

5 to start your day

B.C. cracks down on ‘dirty money,’ homicide detectives investigate Maple Ridge death and more

Bankruptcies in British Columbia on the rise

Consumer bankruptcies climbed by 6. 1 per cent in August 2018 from the same month last year.

World Toilet Day floats some serious health issues

Needs More Spikes blog finds 136 people are currently peeing in Vancouver Island city

Most Read