Research has found that nearly 25% of young Britons who do not own a home are hoping that an inheritance will help them onto the property ladder. The same percentage believe they will never be able to buy their own first property, never mind climb further up the property ladder.
485 of survey respondents believe that it is more difficult than ever to get on the property ladder, and nearly one in five said they would consider leaving the country to buy a home of their own.
One out of seven younger aspiring homeowners believe they will be renting for the rest of their lives. Two-thirds said their income is not high enough to buy their own home.
A variety of government schemes have been announced in recent years to help UK residents onto the property ladder, such as the Lifetime Isa and Help to Buy, the former of which will be launched in April. A housing white paper has also been released to help renters and home buyers.
The English Housing Survey recently released figures showing that in England, one in five households is living in private rentals, while private home ownership is at a 30-year low.
Home ownership came in at 62.9% in 2016, down from 63.6% the year before. It is the lowest percentage since 1985 and eight points lower than its 2003 peak of 70.9%