Younger people 'spend too much on Netflix and coffee to afford a house'

13 June 2022, 11:10 | Updated: 13 June 2022, 11:45

Brits think younger people are unable to afford a house because they are splashing "too much of their income" on luxuries like Netflix and takeaway coffees, according to a study.

Half of Brits believe that young people cannot afford to get on the property ladder because "they spend too much of their income on things like takeaway coffees, food, mobile phones, subscription services like Netflix and holidays abroad", according to the research conducted by academics at King’s College London.

The research, taken from polling of 2,291 adults discovered that 48% of the UK public think young people are frittering too much of their money away.

However the study also revealed the public does recognise that economic factors also prevent young people from buying a home.

Three in four adults (76%) agreed that young adults struggle to get on the housing ladder due to the increase in house prices, stricter lending rules and low wage growth.

The authors of the report said: "It’s easy to see why much of the public think young adults don’t put in the effort needed to save for a home – they tend to view young people today as less hardworking than older people, as well as less hardworking than they were in their youth."

Read more: 'Enraged' Kirstie Allsopp says youths can buy home if they 'move somewhere cheaper

Nick Ferrari questions Gove on plans to extend Right to Buy

According to their research, people are three times more likely to say that younger workers "are less motivated and hardworking than older workers".

But Baby Boomers and Gen X, believe when they first began their careers, younger workers were about as motivated and hardworking as older ones.

But the perception that "today's youth are especially inferior to past generations of young people is nothing new", according to Kings College who say the concept has been around since ancient Greek times.

Participants were asked whether they agreed with a quote that is often cited to describe attitudes towards young people in ancient Greece: "Young people today love luxury; they have bad manners, contempt for authority; they show disrespect for elders and love gossip in place of activity."

More than half of adults (51%) agreed with this statement.

Read more: Right-to-buy revolution but Gove can't say how people on benefits can afford a house

The new research comes months after TV presenter Kirstie Allsopp came under fire for claims that young people can afford a house, if they "just move somewhere cheaper" and give up gym and streaming subscriptions.

The presenter of Location, Location, Location told The Sunday Times she is "enraged" by people claiming they cannot afford a home.

She advised students and young people to consider moving back in with their parents, but did not seem to acknowledge that for some young people, this is not an option.

Her comments have received backlash online for not understanding the difficulties of the cost of living, as well as rising house prices.

One Twitter user simply wrote: "Na I'm done."

Another quipped: "I wish Kirstie Allsopp's Location Location Location was Mars Mars Mars! Her views are from another planet!!"

Ms Allsopp bought her first property with "family help", The Sunday Times reports.

She said: "I do think you have to ask yourself what your degree is giving you. Could you get a job at 18, stay at home with [your] parents for three years, and save every single penny, enough for a deposit?

"I don't want to belittle those people who can't do it," she said.

"But there are loads of people who can do it and don't. It is hard.

"We've fallen into the trap of saying it's impossible for everybody."

She said there is an issue with people not wanting to make sacrifices in order to buy a home.

According to Allsopp, owning a home is the "be all and end all".