Hundreds of people were spotted getting their lunch on the house as a pop up pizza bar in Hackney offered a free slice to Londoners.
It was set up after research found 40% of young people would cut down on takeaways – if it meant they could afford a home in the long run.
A poll of 1,000 18 to 30-year-olds, found half don’t think they will ever get on the property ladder – because it’s so far out of their reach.
Which may be why home ownership is no longer the top priority for 91%, with 45% putting their dream on the backburner while they live life to the full. Two thirds (63%) would prefer to enjoy the money they earn and not put it all into savings or a mortgage.
It also emerged 73% want to take advantage of travelling and enjoying their life while they can – treating themselves, as often as three times-a-month, to things like a meal out or a new item of clothing.
As many as 22% would rather prioritise advancing in their careers and one in 10 would rather pay off their student loan.
A spokesperson for new mobile network, Slice, which commissioned the research and rewards customers with cashback and the chance to have a say in its product features, said: “We understand that it’s hard out there for young people to buy their first home.
“We’re equally tired of hearing older generations tell us to cut back on takeaways to be able to afford a deposit. Cutting out takeaways for a year won’t even come close to the money needed upfront – but we’re giving away free pizza anyway.
“Times have changed in the last 20 years – becoming a property owner then was far easier and not as overwhelming financially. It’s no wonder so many have given up and would rather spend their hard-earned money on life experiences.”
Over a fifth feel they don’t have a high enough salary to afford a mortgage for anything decent. But 49% are still trying to save for a deposit, regardless. This leaves 45% of those who don’t think they will ever be able to buy feeling sad or overwhelmed.
In addition to cutting down on takeaways, 36% said they would reduce the amount of clothes shopping they do and 33% wouldn’t go out for dinner so much, if it meant they could afford a house in long-run.
The spokesperson for Slice, which is giving away a house deposit worth £30,000 to one founding member, added: “It’s overwhelming when the things that are important to so many people feel completely out of reach.
“And we know, first hand, how hard it is for the next generation to get themselves on the property ladder. Which is why we’re giving away a lump sum to one lucky customer for a house deposit – so they can get on with other priorities.”
