United States: Mixed Signals in the Housing Market
7%. Despite these stagnant numbers, there are pockets of opportunity emerging across the country.
Certain cities across the country are attracting increasing numbers of young buyers, with Gen Z making up a growing share of mortgage applications. The story becomes more interesting when comparing generations at similar ages.
5% of millennials at the same age.
Canada: Population Growth Meets Housing Pressures
Canada’s population increased approximately 18% from July 2014 to July 2024, with over half of that growth occurring in the last three years. This explosive demographic shift has created unique pressures on the housing market.
According to the Canada Mortgage and Housing Corporation, housing starts must nearly double to around 430,000 to 480,000 units per year until 2035 to meet projected demand. The Canadian government has responded by curbing immigration in 2024, with temporary resident outflow reaching over 660,000 people.
Despite these measures, home prices are still expected to see a 5% increase in Q4 2025.
South Korea: Luxury Market Leadership
4% in 2024, beating out Dubai and Tokyo. This growth represents a significant shift in the Asia-Pacific region’s luxury housing market.
The surge in Seoul’s housing market demonstrates how local wealth creation and property development can drive dramatic price increases even during uncertain times. Young professionals in South Korea’s capital are finding themselves in an increasingly competitive market where luxury properties have become the dominant trend.
Philippines: Manila’s Remarkable Rise
Manila experienced significant price growth in 2024, backed by strong economic growth. The Philippines capital has emerged as one of Asia’s hottest property markets, driven by economic expansion and increased foreign investment.
There were 436 transactions worth at least $10 million between June 2023 and June 2024, compared to just 23 in 2019. This dramatic increase in high-value transactions signals a maturing real estate market that’s attracting both local and international investors.
New Zealand: Policy Changes Drive Market Optimism
80% between December 2024 and December 2025, potentially adding $54,400 in value to an $800,000 Auckland home. The country’s housing market has benefited from policy changes that favor investors and homeowners alike.
Government policies like reducing the bright line test to just two years and reinstating mortgage interest deductibility are giving investors more incentive to enter the property market. These changes are creating ripple effects throughout the housing sector, particularly in major urban centers.
Australia: Regional Growth Patterns
In the year ending June 30, 2024, overseas migration contributed a net gain of 446,000 people to Australia’s population, pushing the supply-demand balance off-kilter and contributing to housing price increases. The Australian market is experiencing significant regional variations, with some areas seeing substantial growth while others remain stable.
Over the next decade, demand for housing is expected to benefit from rising population, jobs, and income, with a wealth effect adding around $860 billion of income over the next decade.
United Kingdom: Interest Rate Impact
As inflation gradually eases in 2025, central banks across major economies have cautiously begun lowering interest rates, providing relief for prospective homeowners in more prosperous nations where mortgage rates have dipped alongside resilient average incomes. The UK housing market is showing signs of recovery as borrowing costs become more manageable for first-time buyers.
Young professionals are beginning to find opportunities in previously unaffordable markets as financial conditions improve.
Germany: Economic Stability Attracts Young Buyers
Recent analysis included Germany among key European nations experiencing shifts in living real estate trends. The country’s stable economy and robust job market continue to attract young professionals seeking homeownership opportunities.
German cities are seeing increased interest from millennials and Gen Z buyers who value economic security and long-term investment potential. The German housing market benefits from strong employment rates and relatively stable pricing compared to other European capitals.
Challenges Remain Despite Positive Trends
For many prospective homeowners, the cost of borrowing remains prohibitively high, keeping dreams of property ownership out of reach, particularly in countries grappling with economic instability where the housing ladder is slipping further away. The global housing market continues to face significant headwinds despite pockets of growth.
Research shows 70% of Americans believe it is unrealistic to buy a home in 2024, with 63% stating they cannot afford to purchase a home. These statistics highlight the ongoing affordability crisis affecting young potential homeowners worldwide.
Despite these challenges, innovative financing options and government initiatives are creating new pathways to homeownership. Creative financing options like FHA loans, down-payment assistance programs, and co-buying platforms are making first homes more attainable for young buyers.
The global housing market for young buyers remains complex and varied, with each nation facing unique challenges and opportunities. While some countries are experiencing genuine surges in young homeownership, others are struggling with affordability and supply issues that make homeownership increasingly difficult for younger generations.
What patterns do you see emerging in your local housing market? The data suggests that location, government policy, and economic conditions all play crucial roles in determining whether young people can successfully enter the housing market in their respective countries.
