New research from Lloyds Bank has revealed that a staggering 94% of Gen Z still dream of owning their own home — but turning that dream into reality feels increasingly out of reach.
In fact, confidence among young people is so low that nearly a third (29%) believe they’re more likely to win the lottery than buy their first property. Others think becoming TikTok famous (21%) or even seeing Jeremy Clarkson become Prime Minister (13%) is more likely than stepping onto the property ladder.
Deposits and Confusion Are Major Barriers
Saving for a deposit remains the biggest hurdle, with 22% of respondents citing it as their primary challenge. However, it’s not just finances holding Gen Z back — it’s also a lack of understanding.
Around 40% admit they don’t fully understand the home-buying process, with key terms like Loan-to-Value (LTV) confusing 81% of those surveyed.
For many, the scale of the challenge is daunting. According to Lloyds data, the average deposit in London sits at a huge £118,990 — a figure that feels unattainable for most young buyers.
If you’re new to the process, Lloyds offers a helpful First-Time Buyer Hub breaking down everything from mortgages to deposits.
Gen Z Are Still Hustling to Make It Happen
Despite the challenges, Gen Z aren’t giving up. On average, young people have already saved £11,095 towards a deposit.
To boost their chances, many are:
- Taking on side hustles (37%)
- Cutting back on takeaways and spending (34%)
There’s also a strong cultural pull — 65% say that people their age who own homes have “made it,” highlighting how homeownership is still seen as a key life milestone.
Lloyds Teams Up With Six by Nico for a One-of-a-Kind Experience
In an effort to make the home-buying process more accessible, Lloyds has partnered with Six by Nico to launch something completely unexpected: the UK’s first home-buying tasting menu.
Dubbed “The Journey Home,” this six-course dining experience turns the emotional stages of buying a home into a storytelling food journey — from dreaming about your future space to finally getting the keys.
The experience will be available for one day only across:
- London
- Manchester
- Leeds
- Birmingham
Even better, tickets are completely free for aspiring homeowners, with sign-ups available via the official page: Join the waiting list here
Making the Process Less Intimidating
Kate Townson, Mortgage Director at Lloyds, explained that uncertainty is one of the biggest challenges facing first-time buyers today:
“Buying your first home is a milestone that often comes with uncertainty… we’re here to help make sense of the process from the moment they begin thinking about what’s possible.”
Meanwhile, Six by Nico founder Nico Simeone added:
“This exclusive menu transforms the emotional milestones of buying a home into a six-course dining experience… we hope it will turn house-buying aspirations into action.”
A New Way to Start the Conversation
With nearly a quarter (23%) of Gen Z saying they’d feel more confident buying a home if guidance was clearer, initiatives like this aim to break down barriers in a more engaging, less intimidating way.
Whether it’s through financial education or a six-course meal, the message is clear: Gen Z still want to own homes — they just need the right tools, support, and guidance to get there.
