Ireland’s housing affordability crisis and rising cost of living are significantly reshaping the lives and career choices of younger generations, according to new research from Deloitte.
The consultancy’s 15th annual Gen Z and Millennial Survey found that financial pressures are causing many young adults to postpone major life milestones, while concerns about housing are increasingly influencing career decisions.
More than half of Irish respondents said they had delayed significant life decisions because of their financial circumstances. Among those surveyed, 54% of both Gen Z and millennial respondents reported putting off major plans due to money concerns.
The housing market emerged as a particularly acute challenge. Nearly two-thirds (62%) of Gen Z respondents in Ireland said home ownership is beyond their reach, compared with a global average of 51% across 44 countries. Among millennials, 49% reported being unable to afford a home, compared with an international average of 40%.
Housing affordability is also having a direct impact on employment choices. The survey found that 77% of Gen Z respondents and 61% of millennials in Ireland said housing costs influence their career decisions.
Meanwhile, the cost of living remains the dominant concern for younger workers. It was identified as the leading issue by 44% of Gen Z respondents and 63% of millennials, ranking far ahead of concerns such as mental health, unemployment and climate change.
Financial worries are also contributing to elevated stress levels. More than four in ten respondents from both generations said they feel stressed all or most of the time, with concerns about their long-term financial future and day-to-day finances cited as the primary causes.
Despite these challenges, the survey indicates that younger Irish workers remain ambitious and committed to professional development.
Maintaining a healthy work-life balance was identified as the leading career goal for both generations, followed closely by achieving financial independence. At the same time, many respondents expressed aspirations to reach senior leadership positions, with 72% of Gen Z participants and 55% of millennials interested in executive or C-suite roles.
The findings also suggest that younger workers are prioritising steady career progression over rapid advancement.
Interest in upskilling remains strong. Around one-quarter of respondents from both generations reported having completed AI-related training, broadly in line with global trends.
However, attitudes towards artificial intelligence vary. Among Gen Z respondents, concerns about trusting AI-generated outputs emerged as the most significant barrier to workplace adoption, while a lack of experience with the technology ranked second. Millennials, meanwhile, cited insufficient training opportunities and concerns that AI tools do not adequately address the needs of their roles.
The research also highlights growing demand for interpersonal skills. Gen Z respondents ranked public speaking and communication skills above digital literacy as key areas for development. Millennials similarly prioritised public speaking, followed by AI fluency and critical thinking.
“As Gen Zs and millennials mature into leadership roles, they continue to redefine work on their own terms,” said Gary Notley, Human Capital Partner at Deloitte Ireland.
“These generations champion flexible and hybrid working, more open conversations about mental health in the workplace, and a stronger focus on work-life balance. Yet they are also facing financial challenges that are reshaping their careers.”
Notley said the findings underline the importance of workplace relationships in an era of hybrid work.
“While financial pressures are clearly top of mind, they remain remarkably ambitious and are prioritising steady progress in their careers. Our survey highlights the importance of the social element in the workplace, with friendship at work being linked to higher happiness levels and greater tenure. In an era of hybrid and flexible working, it’s a powerful reminder that connection is crucial.”
The survey found that workplace friendships can have a substantial impact on employee satisfaction and retention. Nearly two-thirds of Gen Z respondents and 60% of millennials said they considered some colleagues to be personal friends.
Among Gen Z workers with workplace friendships, 32% said they planned to remain with their employer for at least five years, compared with just 17% of those without close workplace connections. They were also significantly more likely to report high levels of happiness at work.
A similar pattern emerged among millennials. More than half of those with workplace friendships expected to stay with their employer for five years or more, almost double the proportion recorded among those without such relationships.
The Deloitte survey gathered responses from 22,595 participants across 44 countries, including 403 respondents in Ireland. Fieldwork was conducted between November 2025 and January 2026.
Gen Z respondents were defined as those born between January 1995 and December 2007, while millennials were born between January 1983 and December 1994.
