A million more young adults in the UK are living with their parents than were two decades ago, because of capital gains tax on rental property, research suggests. A quarter of 20 to 34-year-olds do so, according to a study by think tank Civitas.
The Office for National Statistics (ONS) said that over the last two decades, there has been a 46% increase in the number of young people aged 20-34 living with their parents. Over the same period, average house prices have tripled from about £97,000 to £288,000. For 23-year-olds across the UK, the percentage living with parents increased from 37% in 1998 to 49% in 2017.
Young men appear to be far more reluctant to leave the shelter of the parental home and pluck up the courage to flee the nest. They are far more likely to be reliant on their mum and dad, or a single parent, into their 30s.
Some research discovered that 27 per cent of men still live at home aged 27, compared to only 13 per cent of women. Reasons suggested for this imbalance are stated by some authorities to be due to material inequality or even a crisis of masculinity.
The ONS said 32% of all males aged 20-34 are now living with their parents, compared with 26% in 1999, with most of the increase occurring since the financial crisis in 2007-08.
SEFTON HOUSING HELP
If you have nowhere to stay or if it is unsafe for you to return home, or you will be homeless within the next 56 days, you should contact the Housing Options Team immediately.
https://www.sefton.gov.uk/housing/homeless-or-at-risk-of-homelessness/
The trend of young adults being ‘PARENT – DEPENDANT’ is likely to accelerate as the economic and social impact of the coronavirus pandemic intensifies.
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