More people in their late 20s are still living with parents

An influential think-tank has concluded that a perception – or possibly a fear – that there are still 20 people hanging out in the family home is based on fact.

The proportion of 25 to 34-year-olds still living with their parents has increased by more than a third in almost two decades, according to the Institute for Fiscal Studies (IFS).

The researchers found that the trend to stay at home is driven by men, and those who are over the age of 20.

High rental costs and rising house prices were the most important reasons for this change.

In 2006, about 13% of people aged 25 to 34 in the UK were living with their parents.

By last year, this had increased to 18%, according to IFS – an independent economic think-tank.

The researchers found that this equates to approximately 450,000 more young adults still living in the family home – with the increase concentrated among those in their late 20s.

Among 25 to 34-year-olds, men were more likely than women to live at home, 23% compared to 15%.

The IFS said this age group has changed in recent decades, becoming less likely to marry and have children. They were also more ethnically diverse, and UK-born youth from Bangladeshi and Indian backgrounds were more likely to live with their parents.

The peak of adult children staying at home was during the pandemic, when more than a fifth of 25 to 34 year olds did so.

Now, in more normal times, parents might expect their grown children to fly the nest, but many in their 20s wish they could.

The IFS said finances were a key sticking point, with rising rents and house prices fueling the trend.

One 25-year-old man who moved back into his parents’ house was Zac Murphy, from London, who had previously shared a flat with two friends. He told the BBC about his concerns, such as BBC’s new housing tracker Showed the challenges facing the government’s housing construction target.

While studying for a master’s degree in environmental science, Zach was motivated by the ambition of a better job, but renting on his own was “out of the question, unless you wanted to live in a shoebox”, and wanted to buy now. Also seems out of reach.

He said, “It is becoming harder to survive. It seems there is no hope of getting on the housing ladder in London.”

In April, business manager Jess Waring-Hughes, 32, told how she She is saving hard to buy a house for herself.,

Moving back in with her parents felt “weird” as she moved into her childhood room, and meant she was in danger of returning to adolescence again.

The IFS concluded that some young people could save by staying at home. Around 14% had accumulated more than £10,000 over a two-year period, compared to an estimated 10% of young adults in private rented accommodation.

However, due to the possibility of high commuting costs, or because some people moved due to financial difficulties, this was not entirely true.

“For some people, living with parents offers the opportunity to build up savings more quickly than renting – which is a particularly valuable benefit in high-cost places like London,” said the IFS research economist. And author B. Boileau said. Report.

“However, other people are likely to live in a parental home because of some kind of bad shock – such as the end of a relationship or redundancy – or simply because they cannot afford to live independently.”

Housing is one of the biggest issues for people contacting us Your voice, your BBC news,