New data suggests a quarter of tenants up to their late 30s have typically moved home no fewer than 10 times since leaving the family property.
The study has been conducted by flatsharing website SpareRoom which says that a quarter of Generation Z and Millennials have moved home 10 or more times since they left their family house while a further 25 per cent expect to move another five occasions before settling down more permanently.
Generation Z and Millennials have been classified as long term renters: however, SpareRoom says not all are being forced out of ownership by circumstance, some are shunning it by choice and opting to invest their money in other ways.
The study goes on to say that just one per cent of these 25-39 years olds are now living in what they regard as their ‘forever home’.
One in three have lived with more than 15 flatmates over their lifetime, excluding family and partners while some 44 per cent of 50-plus owners have never lived with anyone that wasn’t immediate family or their partner.
Matt Hutchinson, SpareRoom director, comments: “The simple fact is that people are renting for longer today than they used to and the key reason is affordability. The days of average house prices being roughly three or four times the average salary are long gone.
“That means Gen Z and millennials will live in so many more properties, and with so many more people, than their parents’ did.
“Their parents’ generation were far more likely to live at home with their family until they moved out to get married, which for some meant they moved straight into their ‘forever’ home, something we’re not used to today.
“There are plenty of places in the world where people don’t feel the same pressure to own their homes as we do, and the truth is renting can be a great option, as we’ve seen from the number of people who’ve found long term friendships through living with each other. But the reality is that housing of all kinds has become way too expensive.”