Posted 03 Feb 2016
86% of London parents worry high housing costs will force their children out of the capital
In a sign of the capital's increasing unaffordability, the YouGov poll commissioned by the charity also found that nine in ten parents (89%) agree children growing up in London today will find it harder to afford their housing costs when they leave home then they did.
With the latest ONS House Price index revealing that house prices in the capital rose by a staggering £36,000 in the last year, it's no surprise that the vast majority of parents think that increasing the supply of affordable homes needs to be top priority for the next Mayor of London.
Shelter is warning that, without a serious strategy to deliver the genuinely affordable homes London needs, an entire generation could end up completely priced out of their home city.
Case Study: Christina and her husband have found themselves priced out of London, and now commute from a house share in Surrey:
"We have both said on various occasions that it is unlikely we will ever own our own home. When affording the rent alone is such a challenge, trying to save for a deposit whilst renting is almost impossible. It's difficult to think of starting a family under these conditions."
Campbell Robb, Shelter chief executive, said: "With rents and house prices in the capital spiraling out of control, it's no wonder that the vast majority of parents fear their children won't be able to afford to live in the area they grew up in.
"The capital's drastic shortage of affordable homes is leaving millions of Londoners stuck in their childhood bedrooms, or in expensive and unstable private renting, with little hope of saving for a home to put down roots in.
"Parents are crying out for the new Mayor to give their children the chance of a home they can call their own. It doesn't have to be this way - mayoral candidates must answer their calls, and commit to plans that can build homes Londoners on typical wages can actually afford to rent or buy."
Notes to Editors
1. Shelter carried out research with YouGov plc, with fieldwork taking place between 14-25 January 2016, asking parents in the capital the following:
- Whether they agreed or disagreed that: 'the cost of housing in London makes me worried that my children won't be able to afford to live in London if they wanted to.' On this, 86% of parents with children living at home agreed, and 5% disagreed.
- Whether they agreed or disagreed that: 'Increasing the supply of affordable housing needs to be a top priority for the new London Mayor.' 83% of parents agreed with this, and 7% disagreed.
- Finally, whether they agreed or disagreed that: 'Children growing up in London today will find it harder than I do to afford housing costs in London when they leave home.' 89% of parents agreed with this and 3% disagreed.
The total sample size was 3,283 Londoners, and the results here are based on the 968 who had children living at home. The survey is carried out online and results are weighted to be an accurate representation of London adults. Tables and full data are available on request.
2. The latest House Price Index from the Office for National Statistics revealed an annual 9.7% increase in house prices in the capital. With average prices in London now at £537,000 according to the same index, that means an increase of £36,000 in the last year. More information on the ONS House Price index is available here.
3. For any other queries, please don't hesitate to get in touch with the Shelter Press Office on 020 7505 2162 or firstname.lastname@example.org