Two-thirds of Gen Z and millennial adults in New Zealand have delayed major life milestones like buying a home or starting a family due to financial strain. According to Deloitte’s 2026 Gen Z and Millennial Survey released in early 2026, living costs and housing affordability far outrank global averages.
Younger generations are fundamentally altering how they build their futures, with financial pressures acting as a major bottleneck for life milestones. Across New Zealand, roughly 65 percent of adults born between 1981 and 2012 report that their financial situation has forced them to postpone significant life choices, compared to a global average of about 50 percent, according to findings from the Deloitte survey.
The extensive research project, which surveyed more than 22,595 respondents across 44 countries including 501 participants in New Zealand, shows a stark contrast between local conditions and international peers.
Housing Affordability Dictates Career and Life Paths in New Zealand
The dream of property ownership appears increasingly out of reach for a substantial portion of the nation’s workforce. Housing affordability and availability directly influence the career paths and employment locations of 72 percent of Gen Z respondents and 69 percent of millennials in New Zealand, significantly outpacing corresponding figures in the United Kingdom at 59 and 55 percent respectively.
“About three years ago we saw this really significant uptick around particularly the Millennials and Gen Z in New Zealand. When we got that sort of uptick in inflation as well, we started to see really a lot of a lot of strain going on, delaying major life decisions.”
Lauren Foster, Deloitte NZ human capital partner
According to Deloitte’s published findings, the cost of living dominates concerns for younger demographics locally. Approximately 56 percent of Gen Z and 46 percent of millennials identify everyday expenses as their leading worry, comfortably surpassing global averages. With the top end of the Gen Z demographic now reaching approximately 31 years of age, many find themselves struggling to build savings while navigating an economy historically infatuated with real estate.
Contrasting Financial Pressures Across Global Regions
While young adults in New Zealand grapple with housing constraints, parallel studies reveal how financial anxiety manifests differently in other English-speaking markets.
Irish respondents face an even starker homeownership barrier. Nearly two-thirds of Irish Gen Z participants (62 percent) stated they cannot afford a home, far higher than the 51 percent global benchmark.
| Region | Gen Z Delaying Life Decisions | Millennial Delaying Life Decisions | Primary Cited Driver |
|---|---|---|---|
| New Zealand | Approx. 64% | Approx. 67% | Housing affordability and cost of living |
| Ireland | 54% | 54% | Housing constraints and everyday expenses |
| Global Average | 55% | 52% | Broad economic pressures |
Shifting Priorities and the Rise of Alternative Milestones
Faced with mounting financial hurdles, younger generations are rewriting the traditional script of adulthood.
Career progression no longer centers purely on climbing traditional corporate ladders to secure executive titles. Instead, maintaining a robust work-life balance and achieving financial independence emerge as primary career goals across multiple international markets.
Workplace Integration and Artificial Intelligence Adoption
At the same time, the rapid integration of artificial intelligence into daily work introduces both opportunities and distinct generational friction points.
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