For the first time since 2012, the proportion of 25-34 year olds buying a home has risen above those renting.
The findings were revealed in the latest English Housing Survey, which covers the financial year 2018-2019.
According to the report, 41.2% of those aged 25-34 are homeowners, up from 37.6% in 2017/2018, with private renters totalling 40.9%.
The government data also revealed that the proportion of 35-44-year-olds who are homeowners dropped from 56.5% to 54.6% between 2018 and 2019 and the share of those renting in this age group rose from 27.6% to 29.2%.
Additionally, 72.9% of 55-64-year-olds are homeowners, rising to 78.7% among those aged above 65.
The estimated 23.5m households in England comprised of 64% (15m) owner-occupiers and 19% (4.6m) renting privately.