25 Questions When Viewing A Central London Rental Property
When viewing a house to rent it is important to ask the right questions as you could be living in it for some time – Our blog lists 15 to...
The number of 20 to 34-year-olds living with their parents has risen by almost a million in 20 years, to 3.4 million, according to a new study from thinktank Civitas, echoing concerns about the impact of the UK housing crisis on millennials.
The trend has been strongest in London, where there has been a 41% increase in young people living with their parents between 1998 and 2015.
The report also highlights a “collapse in single living”; with young people, who do leave home, more likely to live with partners or friends than during previous decades.
According to Daniel Bentley, editorial director at Civitas: “The data is bearing out what we feel anecdotally to be the case. Younger people are beginning to live with their parents for longer and are finding it more difficult to move out. If they do move out, they’re often living with larger groups of people.”
Using data from the Office for National Statistics, the study compared average household size over several generations. This fell from 3.3 people per household in 1951 to 2.36 in 2001, but has since been rising – to 2.39 people per household in 2017.
It is feared that the shift could have implications for government housebuilding targets; making it appear that fewer new homes may be needed in future, than is actually the case. Says Daniel Bentley, it could “reinforce an undersupply for housing for decades”.
Commenting on the findings, Liz Emerson, co-founder of charity Intergenerational Foundation, said: “For young people this means a loss of independence and shattered dreams and reflects that the older generation own more than their fair share of housing wealth.”
Read more about this story in The Guardian.