Generation Y are less likely to be homeowners than Generation X at an equivalent age
New Ipsos analysis of the British Social Attitudes survey, produced on behalf of the Guardian, has shown that the proportion of Generation Y (adults born since 1980) who own their own home is significantly smaller than the proportion of Generation X (those born 1966-1979) homeowners when that generation was of a similar age.
In 2014, when the average age of Generation Y was 27, 32% owned their own home. This compares to 55% of Generation X being homeowners in 1998, when the average age for this generation was also 27. There has been a similar rise in the proportion who rent their house from a private landlord – for Generation X in 1998 the proportion was 24%, whilst for Generation Y in 2014 the comparative figure was 45%. This pattern is not replicated in the United States, where analysis of data from the General Social Survey shows that levels of home ownership and renting from private landlords amongst Generation Y are similar to those of Generation X.
The proportion of those from Generation Y who live at home is also higher compared to Generation X at a similar age. Unlike in Generation X, there are clear differences in educational qualifications between those members of Generation Y who live at home with their parents and those who live independently, with those who live at home less likely to hold degree-level qualifications (17% of those who live at home with their parents and 33% of those who live independently).
Technical note Ipsos re-analysed data from the long-running British Social Attitudes (BSA) and General Social Survey (GSS) series. Both surveys employ random selection methodologies, and use face-to-face interviewing to collect data, and all point in our analysis represent sample sizes of at least 150 responses.
