Home buyers born in the late 1990s, known as Gen Z, will be paying on average £1,739 a month in mortgage repayments, according to research from estate agent Hamptons. Those born in the 1980s to mid-1990s, who are considered millennials, by comparison, will have been paying around £863 a month when buying their first house, once adjusted for inflation.
Baby boomers – born between 1946 and 1964 – will have paid an average of £775 a month and a first time Generation X buyer, born between 1965 and 1980, a £923 monthly payment.
The combination of near-record house prices and the increase in mortgage rates, which are not expected to drop below pre-Covid levels, means Gen Z buyers, on average, are forecast to pay £104,000 in repayments over the first five years of their mortgage.
Denne historien er fra October 08, 2024-utgaven av The Independent.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 08, 2024-utgaven av The Independent.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
It's the unmade Rocky film with a twist... roll up, folks
There is no hate, no love, the gloves are big and the rounds will be short when Mike Tyson and Jake Paul fight on Friday night.
While rivals hit the buffers, Liverpool deserve their lead
Alexis Mac Allister can have a footballing eloquence. His job involves reading the game.
United's ship steadied, now Amorim hits deeper waters
It may be the way all Manchester United managers imagine their reign ending.
Supermarket shoppers will soon find ‘every little hurts'
Is chancellor Rachel Reeves’s decision to hike employers’ national insurance contributions (NICs) about to hit us all – and right in the supermarket baskets?
Barclays warns tax rise will hit workers' living standards
Business leaders accuse government of betraying the nation’
How Gary Barlow became accidental king of memes
The singer is currently enjoying a load of nice days out’ on his new travel show. It’s the latest step in his reinvention as an inadvertent icon of hun culture’, says Katie Rosseinsky
Brothers grim: on the dark world of Nineties boybands
As anew documentary series reveals what it was really like to ride the pop train to stardom, Jessie Thompson remembers her own youthful obsession and looks behind the curtain
Cast iron catnip for Gen Z's aspirations of adulthood
Police had to be called after hundreds of frenzied shoppers descended on a cookware sale this weekend. Helen Coffey dons oven gloves to tackle the LeCreuSlay phenomenon
'Some boys wet themselves, some wanted their mothers'
Reckless exposure to atomic weapons tests left young men and later, their children suffering from debilitating illness and disability. Zoé Beaty reports on the long fight for justice
Why India's trainee doctors are hoping for more bodies
Logistical hurdles and cultural sensitivities are affecting the donation of cadavers, so medical students are forced to train on anatomical models or simulations, reports Namita Singh
