Buying a Car Beats Buying a House for Gen Z: Road to Ownership over Property Ladder

Amidst the daunting challenges of purchasing a home, Gen Z is shifting its focus towards car ownership. The average property price in the UK, and particularly in London, remains out of reach for many young people. Data reveals that the average annual salary for under 30s falls short of the expected deposit required for a home. As a result, over a third of drivers, especially the 18-29 age group, believe buying a car holds more significance than buying a house. This trend is even prevalent among Londoners, who are greatly impacted by rising house prices.

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