Sharp increase in young adults living with parents

A million more young adults are continuing to live with their parents compared to 20 years go according to new research by Civitas.

Approximately a quarter of adults aged 20 to 34-years old still live with their parents, though the figure increases in areas where house prices are more expensive. In London 41 per cent of young adults still live in the parental home, compared to 14 per cent in North-east England were property prices are considerably lower.

Daniel Bentley of Civitas says that increased difficulty for young people to buy a house or receive social housing means they are faced with the options of renting or living with their parents. He considers that the high rents in the private rented sector have persuaded people to stay with their parents longer than before.

The study also suggests that when young adults do finally leave their parents home they are much less likely to live on their own compared to 20 years ago.  Single-person households have been in the decline in Northern Ireland and the rest of the UK, dropping to 30 per cent.

Help to Buy ISAs and shared equity schemes such as that offered by the Northern Ireland Co-ownership Housing Association have helped large numbers of young adults in Northern Ireland get on the property ladder, but the report suggests that Mums and Dads around the country are likely to have their children living with them for a bit longer than they may have expected.

If you are a first time buyer purchasing a house in Northern Ireland, contact one of our property conveyancing solicitors for information and advice on the legal process involved by clicking here.