A new survey has revealed that just one in twenty Millennials have managed to fulfill their teenage dreams, with many falling short of key milestones such as purchasing a property—a goal that earlier generations typically achieved sooner.
Survey Findings on Millennial Aspirations
The poll of 1,000 adults aged 28 to 43 found that 26% have not yet become homeowners, despite previously expecting to have done so by this stage. Of those, 68% are currently renting, and 23% still live with relatives. Other unmet ambitions included earning higher salaries, traveling more extensively, getting married, or having children.
Barriers to Achieving Dreams
The primary obstacles cited were the soaring cost of living (38%) and unforeseen life circumstances (28%). Despite these hurdles, 81% of respondents remain committed to achieving homeownership.
Commissioned by Skipton Building Society, the study coincided with the launch of its free 'Flex Your Way to Homeownership' Reformer Pilates sessions, held ahead of the Renters' Rights Bill taking effect on 1 May. The classes used physical flexibility as a metaphor to challenge the traditional rigid mortgage pathways, showcasing modern alternatives that better suit today's buyers.
Participants also had the chance to consult mortgage specialists, who answered questions and explained flexible options to demystify the home-buying process.
Expert Insights
Jen Lloyd, head of mortgage products and proposition at Skipton Building Society, said: "Many Millennials did exactly what they were told would lead to success—they went to university, built careers, and worked hard, expecting homeownership to follow. Instead, they've faced steep house price growth, rising rents, and sustained cost of living pressures, making it far harder to save for a deposit than it was for previous generations."
Nearly two-thirds (63%) believe it is harder to get on the property ladder while renting, with 56% worried about rent increases and 52% feeling stuck. Data from the Office for National Statistics and Hamptons Estate Agents shows rents across England and Wales have surged by 167% since 1995, outpacing wage growth and making it increasingly difficult for renters to save for a traditional deposit.
Support for Aspiring Homeowners
When asked what would help them get on the property ladder, 41% cited better wage progression, 40% wanted reduced upfront costs, and 26% demanded more accessible mortgage options. However, 56% of prospective buyers were unaware that renters could use their rental payment history to support a mortgage application.
Jen Lloyd added: "What's often overlooked is that renters are already doing the right things. Paying rent on time, month after month, is proof of financial reliability—and we believe that should count. That's exactly why we created the Track Record Mortgage. It lets eligible renters use their rental payment history to access a 100% mortgage, without the need for a traditional cash deposit."
She concluded: "When people understand what's actually possible, it can completely change how achievable homeownership feels. By designing products around real lives today, we want to help more renters turn ambition into action."
Top 10 Things Millennials Thought They Would Have Achieved by Now
- Earning a higher salary
- Feeling financially secure
- Travelling extensively
- Buying their own home
- Living in the area or type of home they expected
- Building a successful career
- Getting married or entering a long-term partnership
- Starting their own business
- Having children
- Living abroad
