More young people say rising bills now stopping them moving out


The data shared exclusively with the BBC suggested nearly 98% of adults living with their parents could not afford to pay what the average first-time buyer pays for a house in their area.

Even if they could afford a deposit, nine in 10 would face mortgage or rent payments, council tax, utility bills, insurance and maintenance costs that would use up nearly half of their income. If they bought a flat, that figure falls to eight in 10.

These calculations are based on one person buying alone and in the same local authority as their parents.

Stuart Haire, chief executive of the Skipton Group, says many young people move out nearby to stay close to their workplaces and friendship networks.

“My heart goes out to them. I think it’s a lost opportunity, and one that we really need to address,” he says.

The report also highlights the financial impact for parents, as there can be a significant loss of income if parents can’t move to a smaller property because older children are still living at home.


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