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 filmmaker creates ‘Monster’ movie about gang life in the city

Fleetwood resident Inderveer Sodhi wrote, directed and stars in his coming-of-age fictional drama

Surrey drunk driver gets 32 months in prison for killing grandma, injuring girl

Shavin Reynold Singh, 31, is also prohibited from driving for four years

Cloverdale hamper program brings Christmas cheer to 500 households in Surrey, Langley, and White Rock

Cloverdale Community Kitchen has been running hamper program for 26 years

Cloverdale ‘Ladies’ Night Out’ shopping event expected to draw thousands

Annual event kicks off the holiday shopping season in downtown Cloverdale

Surrey author wants to create awareness of colourism with latest book

The Desirable Sister is Taslim Burkowicz’s second book

VIDEO: B.C. high school’s turf closed indefinitely as plastic blades pollute waterway

Greater Victoria resident stumbles on plastic contamination from Oak Bay High

B.C. mayor urges premier to tweak road speeds in an ‘epidemic of road crash fatalities’

Haynes cites ICBC and provincial documents in letter to John Horgan

South Cariboo Driver hits four cows due to fog

The RCMP’s investigation is ongoing

B.C. won’t appeal decision protecting ICBC court experts

Change to evidence rules next to save money, David Eby says

1898 Yukon gold rush photo featuring Greta Thunberg look-alike sends internet into tailspin

Jokes erupted this week after a 120-year-old photo taken by Eric A. Hegg surfaced from archives

BC Ferries’ two new hybrid vessels set sail for B.C. from Romania

Two Island Class ferries to be in use by 2020

Distracted driving tickets not for ICBC revenue, B.C. minister says

Minister Mike Farnworth calls SenseBC analysis ‘nonsense’

CN Rail strike and lack of trucking alternatives stoke forest industry fears

Companies calling on the federal government to ‘do everything in its power’ to end the strike

Most Read