Young people in England are quickly losing hope of ever owning property, as real estate expert Nick Millican comments. There doesn’t seem to be a system in place to allow aspiring homeowners to achieve this goal. 

This drop in young home owners is not a new issue, over the last several decades, young people owning their homes has dropped from 57% to 29%. This dramatic drop in statistics can be attributed to the fact that house prices are rising and wages are not. This is something that real estate agents such as Nick Millican are pretty aware of. 

This problem has been a topic of conversation at housing committee meetings as London tries to salvage their population of young homeowners. It’s not just about the mentality of wanting to own a house, young people in London are struggling to secure the massive down payments needed to secure a property in this charming city. And this is where real estate agent Nick Millican comes in on behalf of his clients.

The renting market in London isn’t helping young newcomers save for the necessary payments of owning a home. As the house prices in London are on an upward trend, the hope of securing the next generation into ownership dwindles. Nick Millican notes how this is a whole new but strong trend.

Census data is discovering that people in the age range of 18-39 are giving up on buying and living with their parents far later in life than they planned to. Hopefully London can secure its next generation of newcomers to ensure a thriving domain. Insights into these findings of a possible home-ownership crisis can be attributed to Nick Millican.