Sunday July 5, 2020

Generation rent: only 25% of young can afford a mortgage

Number of young people renting has jumped from 15 per cent to over 50 per cent in a generation

Michael Brennan

Political Editor

@obraonain
18th June, 2017

It’s official – Generation Rent is finding it much harder to buy a new home than their parents did.

Back in 1991, around 59 per cent of young people aged 25-34 were recorded as being homeowners with a mortgage. But that percentage has plummeted to 25 per cent in 2016, according to the latest Census.

At the same time, the number of young people aged 25-34 renting from a private landlord has increased from 15 per cent...

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