Millennials often get a lot of stick for spending their money on avocados, proseccos and expensive holidays when they 'should' be saving for a house.
However, new research shows that millennials are going on the expensive holidays because they believe saving enough money to buy a house is unrealistic which makes sense considering how much house prices have soared recently.
The holiday company Contiki, found that younger people are taking bigger trips - think backpacking adventures. Compared to 2016, there's a 10% increase in the average mount of money young people are spending on holidays.
It found that travellers (aged between 18 and 35) are increasingly travelling to New Zealand (up 83%), South America (up 71%), Bali (up 56%) and Vietnam (up 50%).
Contiki sales and marketing director Donna Jeavons said:
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With housing being so expensive, many young people are opting to live in the moment and pursue other goals first, knowing that buying a house could be a little further down the line than it was for previous generations.
Saving a bit here and there isn't really scratching the surface for millennials, so many are choosing to have the best holiday they can afford instead.
It's particularly hard for first-time buyers to try and get on the property ladder. Recent reports show that house prices are increasing at an average rate of €50 each day.
