100,000 young people could live at home ‘forever’
May 5, 2017 1 comment
Almost 100,000 young adults do not believe they will ever be able to move out of their family home.
Figures from the Office for National Statistics (ONS) shows that as many as 1.23 million people aged between 25 and 34 still live with their parents. Around eight per cent of them claim they can see no possibility that they will be financially secure enough to move out, according to a survey by insurance company Aviva. This means that 98,400 people in that age group anticipate living at home forever.
Lindsey Rix of Aviva said while the challenges of getting on the property ladder were well known, especially as house prices continue to rise, it was nonetheless “startling” to see how many young people had given up any hope of buying property. It was equally surprising that so many “believe the only way they will own a home is by inheriting one” she added.
The survey also revealed that this trend is not equal between genders. Men make up 835,000 of the total number of young people in this situation. Greenwich University Psychology lecturer Dr Oliver Robinson believes this imbalance is because young men are “less good at being fully rounded human beings” than women, who are “better suited to modern life”.
Last year, another Aviva study predicted that as many as 3.8 million young people could be living with their parents by 2025. This estimate was based on the assumption that house prices will continue to increase at the same rate as they have over the past decade.
Photo by Didriks via Flickr under a Creative Commons licence.
May 5, 2017
Categories: Family Life