Young people 'priced out'

31 May 2011

A young couple

Shelter research has revealed an entire generation priced out of a home of their own, forced to rely on others and accept limited chances in life due to the sky high cost of housing.

Our YouGov survey investigating the impact of cost of housing on 18-34 year olds shows that:

  • At a time when young people are facing extreme difficulties in finding jobs, high housing costs are affecting the ability of one in four 18-34 year olds to move for work, hampering economic recovery.
  • 22 per cent of 18-34 year olds have been forced to move back in or continue living with their parents because they can’t afford to rent or buy their own home.
  • 20 per cent of this age group are delaying having children until they can afford to buy or rent their own home.
  • A third (31 per cent) of 18-34 year olds have had to continue living with a partner because they could not afford to live apart, or know someone who has.

Shelter’s Chief Executive Campbell Robb, said: ‘It used to be the accepted path for young people that you grew up, moved out of the family home and started a life of your own.  What this research shows is a fundamental shift in society, with young people today unable to make the same life choices as their parents and being robbed of the opportunity to lead full and independent lives.

‘Yes, housing has always been a major expense, but never before has a generation been faced with having to pay such a high proportion of their spending on a home of their own, whether renting or buying.  And what is so heartbreaking is that we are not just talking about this generation, but about future generations too unless we see some fundamental and immediate changes.

'There is a complete absence of any strategy as to how we are going to solve these issues.  The Government must act now and set out its plan for addressing our housing crisis, or face this - and future - generations being completely priced out of a place to call their own.’