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Tuesday, January 21, 2014

Sharp increase in the young staying with parents

Young adults are increasingly remaining in their family home for longer, according to the latest data from the Office of National Statistics (ONS).

The trend, is unsurprising, following on from a financial crisis that has not been echoed by a comparable fall in property prices, means the move away from mum/dad/guardian has been increasingly difficult for the younger generation.

Back in 2002, just 2.4 million young people aged between 20-34 lived in their childhood home, eleven years later and that figure has risen to 3.4 million in 2013, a 1 million increase.

The full report on the ONS website is here - The large increase of 20-34 year olds living with parents

For further comment on the release - read the Telegraph here or the Daily Mail here.

Expect this figure to increase further if the Conservative press forward with their policy of stopping Housing Benefit to those under twenty five.

Landlord insurance - portfolio rates

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1 comment:

Paul Barrett said...

So a good idea to stop saying HB to under 25's
That means there Will be less spare rooms in council houses meaning the under occupancy penalty won't exist
So a win win for the parents as no extra rent needs to be paid and govt saves a fortune in LHA
But 'LL Will have to sell up or rent to non HB tenats