It's the Kiwi dream: to one day own a place to call our own. But is that dream no longer alive? The FSC's latest research report, 'Money and You: Generation Rent', shows younger Kiwis are still keen to buy property, but that their dream is becoming increasingly out of reach.
Who are 'Generation Rent'?
The FSC's reseach report defines Generation Renters as those aged 18-39. Kiwis in this age bracket number about 1.5 million. Of that 1.5 million, 40% already own a home, meaning that 60%, or approximately 916,000 young Kiwis, do not.