B.C.’s millennials are yearning for homeownership, along with the rest of Canada’s peak millennial population, but the vast majority don’t see it as being a possibility for them at least in the next five years.

Survey results from the Royal LePage 2017 Peak Millennial Survey show that those in the 25 to 30 age group are feeling left out in the real estate market due to the unaffordability of property in the region.

Of those surveyed, 86% of peak millennials in the province think that homeownership is a good investment, but 83% said it’s too expensive for them.

In #BC, 86% of peak millennials believe that #homeownership is a good investment: https://t.co/mIEFhDRWZa #canada150 #realestate pic.twitter.com/mqvTIvVIV4

— Royal LePage Canada (@Royal_LePage) August 17, 2017

With a budget of $350,000, buyers in B.C. can typically get a 2.5 bedroom, 1.5 bathrooms, 1,187 square foot bungalow.

Although maybe not surprising, for the same budget, a buyer in Greater Vancouver will only be able to find a home of 879 square feet, with 2 bedrooms and 1.5 bathrooms.

“As home prices continue to rise in what is Canada’s most expensive housing market, affordability within Greater Vancouver continues to be a matter of contention, particularly among the millennial cohort who are most often first-time buyers,” said Adil Dinani from Royal LePage West Real Estate Services in Vancouver.

Peak millennials is projected to increase 17% in 2021 compared to last year: https://t.co/ONA6CqBIDR #realestate #realtors pic.twitter.com/cqe1YBBlri

— Royal LePage Canada (@Royal_LePage) August 17, 2017

With peak millennials as a group now reaching their late 20s, the number of people aged 25 to 30 is projected to increase 17% in 2021 compared to 2016. Due to their sheer numbers, they are expected to shape the housing market going forwards.

Although millennials aren't quite buying their first welcome home doormat yet, 75% surveyed in Canada are more than willing to put their personal savings towards a down payment for a home.