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To mark Get Living’s anniversary and five years of the build to rent sector, we commissioned a report to gain further insight into the lives of Millennials who are being labelled ‘Generation Rent’.
We polled over 3,000 21 to 35-year-olds across the UK for their views on living, working, home ownership and traveling, to challenge society’s preconceptions and assumptions.
What we found was a picture of caution around property investment, optimism around incomes and an openness to flexible working that is a real departure from previous generations.
Contrary to belief we found that not all Millennials are scrambling to get on the property ladder, in fact many choose to rent with 9 in 10 seeing the benefits. It suits their lifestyle, their life stage and offers them a better living experience.
Millennials are more critical of homeownership – of those who are already mortgage-bound, almost half (45%) would advise their peers to continue renting due to falling house prices and higher costs of living. And a fifth of Millennials would rather invest their money in cryptocurrencies, such as Bitcoin, with 57% considering property investment as ‘High Risk’ over the next five years.
Download the full report here.
Since Get Living launched East Village in 2013, the way people live and work has changed forever. Millennials have grown up in an on-demand subscription society – where it’s increasingly common to rent, rather than buy – with the likes of Netflix, Spotify and Uber leading the way and now homes set to follow.
It’s time to change the way homes are built, managed and experienced.
At Get Living, we’ve already scrapped the standard six-week security deposit, offered transparency with no fees and security with longer tenancies. Now, as we grow outside of London to Leeds, Glasgow and beyond, we’re taking what we’ve learned to build neighbourhoods that empower this generation and those to come.
Get Living will continue to lead the charge for a better way of renting that is a simpler, fairer and positive experience across the UK.