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Home Property

Reaction as young Brits told to bin Netflix and takeaways to get on property ladder

"Hey kids! If you cancel NetFlix at £10.99 a month, you can save up a £50k deposit in *checks notes* - 381 years," one person said.

Jack Peat by Jack Peat
2022-06-13 17:08
in Property
Credit;PA

Credit;PA

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Social media has been awash with reaction after new polling found almost half of Brits think young people can’t afford their own homes because they spend their money on Netflix and takeaways.

A report by the Policy Institute and Institute of Gerontology at King’s College London shows that a whopping 48 per cent of Brits hold the (commonly debunked) belief that young adults are unable to buy a house because they pay for online subscription services, drink takeaway coffee and food and spend too much money on mobile phones and holidays abroad.

Almost half (46 per cent) of respondents say that younger workers are less motivated and hardworking than older workers, meaning they don’t put in the effort needed to save for a home.

According to a separate study by the Resolution Foundation, the typical first-time buyer house price-to-earnings ratio has almost doubled since the 1990s, and the average first-time buyer deposit has tripled from 5 per cent of the value of the property in 1989 to 15 per cent in 2019.

Average house prices have also soared from £2,530 in 1960 to £278,000 today.

Reaction on social media was quick to flood in, with many people sharing their bewilderment that the old ‘avocado toast’ myth is still alive and well.

Here’s what people had to say:

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I can pretty much guarantee this is 'half of Britons who *already* own their own home'.

Hey kids! If you cancel NetFlix at £10.99 a month, you can save up a £50k deposit in *checks notes* – 381 years. https://t.co/N1WFmOjda9

— The All New Dom Show (@TheNewDomShow) June 13, 2022

I’m guessing it’s the half of Brits that bought their houses for three shillings back in the day? 🙄 let us live Brenda https://t.co/80AMdGnEdG

— Lauren (@iamlaurenhurley) June 13, 2022

"Half of Britons don't understand house price inflation" pic.twitter.com/qMhWwZ0t2s

— Gio van Broonckhorst (@giovanbroon) June 13, 2022

Half of Britons blame young people failing to get on housing ladder because of Netflix/takeaways. In 84 at 21. my deposit on a house was just 1k. Average deposit U.K. today is 61k. Older population in U.K. far outweighs younger in U.K. Privileged wrinklies piss me off. 😠 pic.twitter.com/z7e1oz6e4K

— Teri 💙♿️ (@mettlesome_teri) June 13, 2022

Half of Britons also voted for Brexit, I wouldn't count on them having any common sense. https://t.co/WtfPcPSPLj

— tommm (@awildtom) June 13, 2022

Half of Britons? pic.twitter.com/dAvJKbwWUf

— Sorry for the bullshit but: #JohnsonOut (@AndyOsb97287354) June 13, 2022

Related: EU could take legal action against UK as soon as Wednesday in response to NI Protocol moves

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