UK Renters Prioritise Property Over Proposals
Nearly half of UK renters in relationships are prioritising buying a home over marriage. With rising costs and affordability gaps, many are rethinking financial goals. Need help planning your next step? Speak to our Lettings Director Andy or tune into Investors Corner for expert property insights.
New research from Zoopla shows that nearly half of UK renters in relationships are prioritising buying a home over getting married. It highlights how financial challenges are reshaping people’s goals.
According to the survey, 48% of renters are more focused on saving for a home than planning a wedding. This rises to 59% among Gen Z renters. Only 6% of Gen Z renters say that saving for a wedding is a top financial priority, and just 57% are expected to get married, compared with 72% of Gen X and 87% of boomers.
Buying a Home vs Getting Married
One in five people said they would delay getting married to afford a home, and a quarter have had to choose between saving for a home or a wedding. Over a third (37%) said they would cut back on wedding plans to make buying a property more possible.
Property costs are also putting pressure on relationships. Around 49% of renters said that housing-related financial stress was leading to disagreements with their partner.
Big Differences Across the UK
Affordability is a key issue, especially in southern England. Just 34% of renters in the South think owning a home is achievable, compared with 43% in the North. In the West Midlands, 77% said high prices make it harder to buy, and in London that number rises to 82%.
Many first-time buyers don’t realise how much they need to save. The average deposit for a first home is about £56,700, but renters expect to need only £27,600. In London, the gap is even bigger: buyers expect to need £39,800, but the real average is £138,800.
One in four expect help from parents or in-laws with their deposit.
Zoopla says that while homeownership is clearly important to many, there’s still a big gap between expectations and reality when it comes to saving. He recommends speaking to a mortgage broker early on to understand what’s needed and what help is available.
Need Help Making a Plan?
At Avocado Property, we understand how tough it can be to take that first step. Whether you’re saving for your first home or thinking about investing, we’re here to help.
If you’d like advice or support, speak to our Lettings Director Andy. And for more tips and updates on the rental market and investing, tune into our Investors Corner podcast.