Nearly A Million More Young Adults Now Live With Parents

Nearly a million more young adults are living with their parents than was the case two decades ago, a study has found. The figures, in a report by the cross-party thinktank Civitas, will fuel concerns that too little is being done to protect young people from Britain’s housing crisis. The proportion of people aged 20 to 34 who live with their parents has risen from 19.48% in 1997, equating to 2.4 million people, to 25.91% in 2017, equating to 3.4 million. Read more on the Guardian website.

https://www.theguardian.com/society/2019/feb/08/million-more-young-adults-live-parents-uk-housing

Fifth Of Adults Live With Parents Until They're At Least 26

As the housing crisis bites, a fifth of young adults are staying in the family home until they are at least 26, and the same proportion are not paying a penny towards their keep. A survey by Nationwide found that the proportion of adults living at home varied around the country, from just under 9% in the east Midlands, to more than double that in London, where house prices and rents are highest. While many around the country contributed financially, it found that 20% were paying nothing at all. Young adults are being squeezed by low wages and rents which have hit record highs, while those who want to buy a property are finding the monthly cost of renting is preventing them saving enough to get on the housing ladder. Read more on the Guardian website.

Housing Crisis Could Leave FIVE MILLION Young Brits Stuck At Home with Their Parents

The housing crisis means the number of young people living with their parents could hit five million by 2020. There are 3.35 million 20 to 34-year-olds still living with mum and dad – up 470,000 since 2010. And Shadow Housing Minister Emma Reynolds warns this could reach five million if housing costs rise. It comes as figures show young people have been hit hardest under the Tory-led Coalition, with their earnings £1,750 a year lower than in 2010. Analysis by the House of Commons Library found people in their 20s need to work 162 extra hours a year to earn the same as they did five years ago. Read more on the Daily Mirror website.

Parents Fear Children Won’t Afford Roofs over Their Heads In Future

New research reveals that parents’ hopes for their sons and daughters’ futures are being clouded by fears they will never afford their own home, and a belief the main political parties aren’t doing enough to deal with the housing crisis.

·         81 per cent are worried about the impact of rising house prices on the next generation

·         80 per cent don’t think any of the mainstream political parties will effectively deal with housing

·         69 per cent fear children won’t be able to afford to buy a home in future without their financial support

·         25 per cent are already saving money for their children’s first home

·         Yet 6 per cent are still reliant on hand-outs from their own parents towards housing costs

Read more on the NHF website.

House Prices Could Quadruple If We Don’t Act, Warn Shelter

England faces a deepening housing crisis if the next government doesn’t commit to a radical programme of house building, a KPMG and Shelter report has warned. The report outlines how the 2015 government could turn the tide on the nation’s housing shortage within a single parliament. New research estimates that average house prices would be over £900,000 by 2034 if current trends continue – a quadrupling of current prices. The research also shows more and more people priced out of a home of their own as housing costs soar – a trend that could see more than half of 20 to 34 year olds living with their parents by 2040. The report sets out essential reforms to increase the supply of affordable housing and stabilise England’s rollercoaster housing market. It calls on politicians to commit to a range of key measures. Download a copy of the report from the Shelter website.

Housing Costs Force 1 In 10 Back to Mum and Dad

Almost one in ten people aged between 20 and 40 – equivalent to 1.6 million people - are living with their parents because they can’t afford to rent or buy a home.  The findings, which were taken from a YouGov poll commissioned for Shelter, also reveal 22 is considered the ideal age for young people to move out of their family home.  But with almost a third of first-time-buyers aged over 35*, young people face years of private renting or living with their parents before they can hope to get on the property ladder.  The poll also revealed the impact living at home as an adult is having on the so-called boomerang generation.

    *59% of those living at home say developing new relationships is harder because of their living situation.

    *35% say they feel embarrassed to admit they live with their parents.

    *24% say that their relationship with their parents has deteriorated because they live with them.

Read more on the Shelter website.