52% of under-35s believe they won't be able to buy a home

A new PTSB survey finds that over 52% of under-35s believe they will never be able to purchase a home. The research of 1,000 adults also shows that many under-35s are now considering social housing and long-term renting to secure a place to live. PTSB's annual report on Ireland's housing situation reveals that attitudes towards the housing market are changing rapidly, with 61% of under-35s considering social housing and 55% looking at long-term renting.

One in four renters who previously did not consider social housing are now open to it, but long-term renting is not seen as a suitable option for the majority of people. The survey also indicates that house prices will continue to rise and that future generations will face more difficulties in homeownership. PTSB's Chief Sustainability and Corporate Affairs Officer, Leontia Fannin, notes that younger adults are increasingly considering alternatives like long-term renting and social housing, reflecting the challenges many face in their journey to homeownership.

Director at BehaviourWise, Claire Cogan, believes that the findings show a psychological shift in how people view home ownership, with the traditional path to buying no longer perceived as straightforward or guaranteed.