A survey from Zoopla shows that nearly half of this cohort plan to move within the next five years, which compares to 28% of 35-54-year-olds. This compares to the concept of a ‘forever home’, which is typically defined as a home that someone would live in for 15-20 years or the rest of their life.
The top motivation for younger homeowners was the desire for a better location that better suits their life, at 37%, with 36% pointing to the need for a larger home for a growing family or the requirements of modern hybrid working. A third said they wanted to relocate to save money.
Around half of all homeowners said it is important to have the option to renovate their property, but this rose to 82% of 18-34-year-olds and 57% of 35-54-year-olds.
Zoopla said this implies that Gen Z and millennials do not view a home as a “static purchase” but an “ongoing project to be adapted and updated”.
While nearly a third said they are deterred from moving by the associated costs, such as stamp duty and legal fees, 39% still felt that relocating entirely is more financially sensible than staying put and remortgaging to fund a major extension or renovation, which was cited by 22%.
Almost a third of homeowners said they do not think they have found their forever home, which goes up to 36% in the South East and East Midlands.
Approximately 88% of homeowners see the property as a place to build a life and memories.
However, a split appears when viewing the home as a financial asset. On average, around 7% of all homeowners see a home as a financial asset, which goes up to 23% for 18-34-year-olds.
Zoopla said this shows a “pragmatic and commercially aware approach to getting on the housing ladder and seeking to leverage their property for future capital gains to buy their next home”.
The firm noted that the “financial pragmatism” was clear in the 45% of 18-34-year-olds planning to relocate in the next five years.
Dream of a forever home ‘is being completely rewritten’
Daniel Copley, consumer expert at Zoopla, said: “The dream of a forever home hasn’t disappeared, but its definition is being completely rewritten by younger generations. They are acutely cost-conscious and view their property not as a shrine to permanence, but as a flexible asset that must align with their fast-changing lives.
“The study shows they are planning for a large home and are not afraid to renovate to make it their own, but they are equally ready to move if their home stops meeting their needs. Zoopla is ready to support this new wave of homeowners, whether they are planning their next move in five years or looking to unlock the renovation potential of the home they own right now.”
Glynn Gibb, regional director at John D Wood & Co, said: “The idea of a ‘forever home’ remains an appealing concept and will always have a certain romance to it, but for many buyers today, life simply moves too fast for permanence to be the goal. Careers, families and priorities all change, and people are realising their home needs to change with them.
“Rather than chasing the ‘forever home,’ today’s buyers are focusing on finding the right home for this stage of their life – one that fits their current lifestyle, supports their ambitions for the next few years, and gives them the freedom to move when life calls for it. It’s a more realistic, empowering way to think about homeownership – and it’s an opportunity to keep reassessing what ‘home’ means as life unfolds.”
Nathan Emerson, CEO of Propertymark, said: “There is a clear generational shift in attitudes towards homeownership. Younger buyers are prioritising flexibility, affordability, and the potential to add value through renovation, rather than aiming for a single ‘forever home’.
“This mirrors the realities of today’s housing market, where changing job opportunities, lifestyle needs, and financial pressures mean people are moving more frequently and viewing property ownership as both a stepping stone and an investment.”
He added: “Many younger homeowners are looking for homes that can evolve with them, properties with renovation potential, access to good transport links, and strong local amenities. However, the market needs to continue to support mobility and affordability, ensuring people can make these transitions without being held back by supply shortages, high transaction costs, or limited mortgage options.
“Estate agents have a key role to play in guiding consumers through these shifting priorities, helping them make informed choices that balance flexibility, financial attentiveness, and long-term aspirations.”
