Financial News

  • 29 July 2014, 13:05

House Prices Force Adults To Live With Parents

Millions of young workers have been dubbed the "clipped wing generation" because they are forced to live with their parents by rising house prices.

Housing charity Shelter has published census data showing almost two million workers aged 20-34 in England alone - a quarter of the total - are living with parents or grandparents.

A YouGov poll found 48% of them say housing costs are to blame.

At the Coast and Country Housing Association headquarters in Redcar, out of 11 people working in one office, nine were aged 20-34 and four of them were still living at home.

Laura Wood, 26, moved back into the family home after graduating and has lived there ever since while she saves up for a deposit on a house.

"It's obviously difficult when you mum's still asking what time are you going to be in, where are you going what are you doing, so I don't feel like I'm 26 half of the time," she said.

Her co-worker Liz Wilson, 65, still has her 30-year-old son living at home and says the problem of unaffordable housing is forcing her to stay at work.

"I can't retire because we have to provide a larger property for him to have his own room, his own space, and as such we can't downsize," she said.

Campbell Robb, Shelter's chief executive, accused the Government of not doing enough to help.

He said: "The 'clipped wing generation' are finding themselves with no choice but to remain living with mum and dad well into adulthood, as they struggle to find a home of their own.

"Rather than pumping more money into schemes like Help to Buy, we need bolder action that will meet the demand for affordable homes and not inflate prices further."

In a statement, Housing Minister Brandon Lewis said measures including the Help to Buy scheme were addressing the issue.

"We're determined to ensure anyone who works hard and wants to get on the property ladder has the help they need to do so," he said.

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