‘Clipped wing’ generation staying with mum & dad

Published on

family-home

New research from Shelter has found that despite working, 48% of 20-34 year olds who live with their parents do so because they can’t afford to rent or buy their own home.

A lack of affordable housing was the single biggest reason that so many young adults are unable to fly the nest. Currently a quarter of all 20 to 34 year old working adults in England – 1.97 million people – are living with their parents.

Several areas of the country see a much higher proportion of young working adults living with their parents. Hotspots for the ‘clipped wing generation’ include Castle Point in Essex where 45% of working 20-34 year olds live with their parents; Knowsley in Merseyside where it’s 42%; and Solihull where the figure is 38%.

Shelter said that its research shows over half of working young adults worry that living in the family home is holding them back from leading an independent life.

The latest government figures show average house prices for first-time buyers in the UK have risen by 11.3% in a year.

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. And those who aren’t lucky enough to have this option instead face a lifetime of unstable, expensive private renting.

“The government knows that the only way to turn the tide of the housing shortage is to fill the gap between the homes we have and the homes we need. Bolder action is needed to meet the demand for affordable homes and not inflate prices further. Politicians of all parties must now put stable homes for the next generation at the top of the agenda.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

SortRefer posts record-breaking July as broker demand surges

SortRefer, the Derby-based conveyancing and legal services platform, has reported its strongest month on...

Mortgage lenders under fire as rates lag behind interest rate cuts

Mortgage holders are paying over £1,000 a year more than they should be according...

Average English homebuyer to gain £41k in borrowing power

Homebuyers across England are set to benefit from a substantial increase in purchasing power,...

Somo revives summer offer with valuation discounts and free beer for brokers

Specialist lender Somo has announced the return of its August promotion, offering 90% off...

Property and finance sectors dominate shortlist for 2025 Social Mobility Awards

Firms from the property and financial services sectors have secured a prominent place on...

Latest publication

Latest opinions

Take off the rose-tinted glasses and stop chasing a rate cut

Every six weeks the financial world raises its eyebrows at the prospect of a...

Job cuts to inflation shock: preparing for a mortgage arrears crisis

The latest data on jobs paints a picture of a rapidly weakening labour market. The...

URGENT! AI Is coming for you. Or maybe not…

I’ll try to make this as straight to the point as I can. The...

Mind the gap: Can mortgage advice change the game for protection?

Many industry insiders still talk about the UK protection gap and how vast it...

Other news

SortRefer posts record-breaking July as broker demand surges

SortRefer, the Derby-based conveyancing and legal services platform, has reported its strongest month on...

Mortgage lenders under fire as rates lag behind interest rate cuts

Mortgage holders are paying over £1,000 a year more than they should be according...

Average English homebuyer to gain £41k in borrowing power

Homebuyers across England are set to benefit from a substantial increase in purchasing power,...