Property News

House Prices Delay Starting a Family

Em Morley - September 13, 2012

The cost of housing in the UK is forcing couples to delay starting a family, says housing charity Shelter.

House Prices Delay Starting a Family

House Prices Delay Starting a Family

Shelter conducted a study on people aged 31-44, finding that one in five is postponing having children because they are finding it difficult to locate affordable housing. Of those delaying, a quarter has already waited at least five years.1

Renters and aspiring buyers alike are struggling with house prices. Lots of people of this age are living in small flats that they do not consider appropriate for raising children in. However, they cannot save for a deposit or afford rising rents on a better property.

One in three first time buyers is older than 35, therefore at the latter stage of their fertile years.1

It will now cost £50,000 for the average deposit, while the average monthly rent is £700. Despite house prices being rather steady at present, mortgage providers are not relaxing their lending criteria.1

It is also thought that rents will continue growing at above-inflation rates, with about 40% of landlords expecting to raise their rents by an average of 4.5% in the next year.

Social housing is also not a viable alternative for most renters, as entry to this sector is limited. Shelter is calling for the Government to build affordable houses for families who are currently priced out of the market.

1 http://www.justlandlords.co.uk/news/Housing-Costs-Delay-Parenthood-1411.html