The dream of a ‘forever home’ is losing relevance. Here’s why
Younger generations in UK moving away from ‘forever home’ ideal, survey reveals
- New research indicates that the traditional concept of a "forever home" is losing relevance among younger generations in the UK.
- A survey by Zoopla found that 63 per cent of homeowners aged 34 and under believe the idea holds less importance compared to their parents' generation.
- This shift is attributed to decades of rising house prices, extended rental periods and modern lifestyle factors such as divorce and the need for work flexibility.
- Younger homeowners are increasingly viewing property as a flexible asset and prioritising homes with potential for renovation, with 23 per cent of under-34s seeing it purely as a financial asset.
- Industry experts suggest that today's buyers focus on finding a home suitable for their current life stage, emphasising flexibility, affordability and investment potential over long-term permanence.