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2 million young people still living with parents due to rising house prices


07-30-2014

Nearly half of 20 to 34-year-olds surveyed can't afford to buy or even rent their own home

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Mother and father watching their son leave

Nearly two million working young adults are still living with their parents because they can't afford to get on the property ladder.

That's according to the charity Shelter, which has taken data from the Census to show there 1.97m adults aged 20 to 34-years-old still stuck with mum and dad.

A survey commissioned by the charity also found that nearly half (48%) of 250 young adults who live with their parents said they do so because they cannot afford to rent or buy their own home.

Shelter said its analysis of the Census data uncovered several areas where the proportion of adult children living with their parents is much higher.

It named nation's "clipped wing" hotspots as Castle Point in Essex where 45% of working 20- to 34-year-olds live with their parents; Knowsley in Merseyside where the figure is 42%; and Solihull where 38% of young working adults still live in the home they grew up in.

House Prices Map
Unaffordable Housing: This map shows the cost of housing across the country, which has left many young people unable to fly the nest.

Shelter highlighted the case of a 32-year-old woman named Sarah who lives with her parents in the family home in Croydon. She works in online advertising, but has been living on and off with her parents for the past 10 years while trying to save for a deposit.

Sarah said: "I'm trying really hard to save up and get my own place but today's rollercoaster house prices mean the goal posts keep moving.

"If I move out now the reality is I'll be stuck paying expensive rents for the rest of my life. I know I'm lucky to have a job and somewhere to live, but the thought that I'm going to be living like a teenager into my late 30s or even 40s is really disheartening."

Campbell Robb, chief executive of Shelter, said: "The 'clipped wing generation' are finding themselves with no choice but to remain living with mum and dad well into adulthood, as they struggle to find a home of their own.

"Rather than pumping more money into schemes like Help to Buy, we need bolder action that will meet the demand for affordable homes and not inflate prices further.

"From helping small local builders find the finance they need, to investing in a new generation of part rent, part buy homes, the solutions to our housing shortage are there for the taking.

"Politicians of all parties must now put stable homes for the next generation at the top of the agenda."
 

www.mirror.co.uk

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