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

Four Surrey students head to New Brunswick for Canada-wide science fair

Three projects move to nationals following regional fair at KPU

Man ‘seriously’ injured in crash after driving wrong way on Highway 17: Surrey RCMP

Police say the sedan hit a transport truck, then another car

Easter ‘eggstravaganza’ event planned for South Surrey

Event is to run from 12-3 p.m. at Dufferin Park (17355 2 Ave.).

Surrey resident says proposed apartment building is a ‘monstrosity’ in Whalley neighbourhood

Philip Galbraith says he voted for Safe Surrey Coalition to ‘slow down development’

Update: Surrey Mounties found missing man

Kuldip Sandhu, 41, had been reported missing

VIDEO: Alberta man creates world’s biggest caricature

Dean Foster is trying to break the world record for a radio show contest

VIDEO: Giants draw first blood in Western Conference championships

In Game 1 of the best-of-seven series between Vancouver and Spokane, the G-Men emerged triumphant

Multiple people injured after deck collapses during celebration

Emergency responders rushed to the Langley home

B.C. RCMP receive application for Police Cat Services

RCMP announced the launch of the Police Cat Services unit as an April fools joke

Rats available for adoption in Vancouver

In a social media post the City of Vancouver says you can adopt a rat for $5.

Kirkland Signature veggie burgers recalled due to possible metal fragments

Recalled products came in 1.7 kg packages with a best before date of Apr. 23, 2019

Chaos at the ferry terminal for people heading from Vancouver to the Island

Easter crowds create backlog at Tsawwassen ferry terminal

Parents of 13 who tortured children get life after hearing victims

One of their daughters fled their home and pleaded for help to a 911 operator

Crews battle Burnaby blaze; 2 people sent to hospital

Emergency Support Services helping residents displaced by fire

Most Read