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

20-bed emergency shelter to open in Hope in October

Supportive housing also planned for two lots on Old Hope Princeton Way, adjacent to the shelter

Fraser River First Nations say they aren’t getting their share of sockeye

Shortage is a result of decisions made by DFO, not a shortage of sockeye, complaint says

PHOTOS: Japanese-Canadians who built Highway 3 forever remembered with Mile 9 sign

A lesser-known part of B.C. history is the 1,700 Japanese-Canadian men who built highways in WWII

Hope arm-wrestler turned track and field star wins five medals at 55+ Games

Seven medals total coming back to Hope from golf and track and field events

Hope daycare and preschool project delayed past ‘aggressive ’ September start-date

12 families are waiting for Swetexl, a collaboration between faith, First Nations and education organizations, to open

Video: Flyers new mascot ‘Gritty’ a bearded, googly-eyed terror

The Philadelphia Flyers unveiled their new mascot Monday, and as one would expect of the team that gave us the “Broad Street Bullies,” he’s far from cuddly.

Edmonton cannabis company revenues more than triples to $19.1 million

Aurora Cannabis revenues more than triple in fourth quarter

B.C. pharmacist suspended for giving drugs with human placenta

RCMP had samples of the seized substances tested by Health Canada

Seattle one step closer to NHL after arena plan approved

Seattle City Council unanimously approved plans for a privately funded $700 million renovation of KeyArena

Harvest Moon to light up B.C. skies with an ‘autumn hue’

It’s the first moon after the autumn equinox

Hockey league gets $1.4M for assistance program after Humboldt Broncos crash

Program will help players, families, coaches and volunteers after the shock of the deadly crash

Canada has removed six out of 900 asylum seekers already facing U.S. deportation

Ottawa had said the ‘overwhelming majority’ had been removed

Appeal pipeline decision but consult Indigenous communities, Scheer says

The federal appeals court halted the Trans Mountain expansion last month

Most Read