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Half a million more 20-34 year olds now live with parents

In 2011 nearly 3 million adults aged between 20 and 34 were living with their parents, an increase of almost half a million, or 20%, since 1997.

This is despite the number of people in this age group being largely the same in 1997 and 2011.

The figures from the Office for National Statistics show at age 20, 64% of men and 46% of women were living with their parents in 2011.

This decreases steadily until around the age of 30, after which the percentages remain more stable.

By the age of 34, only 7% of men and 2% of women were living with their parents.

The increase in the number of young adults living with parents over the past decade coincides with an increase in the average house price paid by first-time buyers, which rose by 40% between 2002 and 2011.

In addition the increasing ratio of house prices to the incomes of first-time buyers is well documented.

Nicholas Ayre, director of Home Fusion, says: “A 20% rise in the number of 20 to 34 year-olds living with their parents says all you need to know about the property market and economy – they’re broken.

 “Property ownership is a pipe dream for the majority of today’s young adults while rents are at astronomical levels.”

He says renting was once the default option for people who were saving to own their own homes but now it’s a luxury.

 He adds: “For a huge number of today’s young people, the only option, quite clearly, is to live with their parents.

 “The root cause of this problem is a lack of supply. There just aren’t enough properties for people to live in.

 “Both the current and previous governments said they would address this pressing issue, but neither has done so.

 “We have policies that tinker around the edges rather than get to the heart of the matter.

 “With the economy in a coma, lenders beating a retreat and the Eurozone threatening to unravel, it looks like the number of young adults living with their parents will continue to rise in the years ahead.”

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  • Iain 30th May 2012 at 9:03 am

    The ‘prices are too high’ brigade always fail to mention that a mass reduction in prices traps those on the entry level who cannot sell and worsens the problem of repossessions (couples splitting under the strain and can’t afford to maintain the mortgage in a single name).

    If the prices drop, do you really think that suddenly everyone will be able to buy and there will be no shortage of housing?

    Flexible lending seems to be the only way out of this at the moment to me.

  • ged 30th May 2012 at 5:30 am

    ‘On the upside, there’s an almighty property crash coming to London and The South East, so finally people will be able to afford a place to live’

    This may be a long way out as with Asia, Russia, UAE and now Europe all buying London property as a safe bet i just cant see this happening any time soon. Also lots are cash buyers. Could you clarify your reasoning?

  • pants 29th May 2012 at 9:53 pm

    Not enough houses. There’s plenty of houses but they are all being hoarded by boomers. My Mum and Dad have five and I can’t think of one of their friends that doesnt have at least a couple of properties to provide for their ‘old age’. I live in a road full of 4 bedroom properties and most of them are occupied by elderly couples. The house next door to mine is a 4 bedder that was bought by a couple in their eighties as a second home for weekends for £1.1m last summer.

  • pants 29th May 2012 at 9:53 pm

    Not enough houses. There’s plenty of houses but they are all being hoarded by boomers. My Mum and Dad have five and I can’t think of one of their friends that doesnt have at least a couple of properties to provide for their ‘old age’. I live in a road full of 4 bedroom properties and most of them are occupied by elderly couples. The house next door to mine is a 4 bedder that was bought by a couple in their eighties as a second home for weekends for £1.1m last summer.

  • Annabelle 29th May 2012 at 4:15 pm

    Agree the lack of homes argument is rubbish. There are plenty of homes available, but no one can afford them. The focus is always on the younger generation. I’m in my 40’s and like many others that have no hope of owning, I flat-share because I can’t even afford to rent my own place. I’m on an above average London salary. On the upside, there’s an almighty property crash coming to London and The South East, so finally people will be able to afford a place to live.

  • Larry 29th May 2012 at 3:58 pm

    “My reply to that comment, rubbish, the truth is that house prices are still way too high.”

    House prices are only too high because there aren’t enough of them! It all stems from a lack of supply. Ireland and Spain have too many and their prices are dive bombing.

  • The Truth 29th May 2012 at 2:49 pm

    Good luck to them. It is a sort of passive resistance to over-priced houses and extortionate robbing high rents.If all youngsters did this it would drive down rental and house prices.

  • Milo 29th May 2012 at 1:05 pm

    “The root cause of this problem is a lack of supply. There just aren’t enough properties for people to live in”

    My reply to that comment, rubbish, the truth is that house prices are still way too high.

    Young people are in no rush to saddle their selves with huge debt / to over pay for a home especially with mortgage repayments likely to rise due to a second credit crunch emerging, it’s got nothing to do with a lack of supply.

  • Liz 29th May 2012 at 12:41 pm

    I would disagree that the main reason is a combination of people not being able to fund large enough deposits to meet lending criteria AND house prices being so high AS OPPOSED TO a lack of supply of housing.

    And until the banks decide to start lending again the former will remain a problem, and the latter well yes an increased supply might drive house prices down a little but it is not an isolated factor.

    With the majority of first time buyers and even home movers that I see who do not buy it is because they cannot afford the mortgage, are unable to raise a large enough deposit or just don’t fit lender’s ctiteria.