Wednesday, December 12, 2012
According to the IPPR, by 2020 the number of homeowners in their
twenties will have fallen by 1.1 million to 1.3 million, with 1.5
million people aged 18 - 30 living in the private rented sector. On
top of that, the number people in their thirties living with their
parents will rise by 500,000.
A report carried out by IPPR found that 85% of 18 - 30 year olds
want to own their own home. However, the report also stated that
many young people do not see a viable way of making this happen.
Many considered the current options available to be stifiling to
their ambitions, career goals or family plans. More than a fifth of
those sharing a house said that option lacked security.
Dalia Ben-Galim, associate director at IPPR,
"Our analysis shows that the lack of houses is dragging young
people down. A huge majority of today's younger generation want to
own their home, just as most of their parents have done. But the
prospect is slipping ever further over the horizon. Insecure
renting stops them from putting down roots, but it is bad for
According to figures from the Land Registry, only 66,700
properties changed hands in October, down from 113,456 in October
2006. Figures from the Office of National Statistics found that two
million young men and women are now living at home, 20 per cent
higher than in the 1990s.