Parents fear for youngsters without own home
By |Published On: 5th May 2015|

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Parents fear for youngsters without own home

By |Published On: 5th May 2015|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

A growing number of parents in Britain believe that the only way that their offspring are to afford their own property is through inheritance.

Parents believe that extortionate house prices and a crippling lack of affordable housing are leaving a number of young people priced out of the market, according to a new survey from housing charity group Shelter.

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Latest government figures suggest that home ownership levels for young adults have dipped dramatically during the last decade. The survey from Shelter indicated that one in six 25-34 year olds who had been successful in purchasing a home relied on inheritance money to do so. Additionally, almost one third said that they had been given money for a deposit as a gift.[1]

Parents fear for youngsters without own home

Parents fear for youngsters without own home

Campbell Robb, chief executive of Shelter, believes that it is a, ‘tragic consequence of our housing shortage that, even when they are working hard and saving what they can, a generation of young adults have no choice but to rely on the prospect of inheritance to have any hope of buying their first home.[2]

Future commitment

Mr Robb feels that the combined failure of a number of governments to plan and implement the building of secure, affordable housing has led to many youngsters facing an uncertain future. He feels that, ‘politicians should give back hope to the priced out generation by making a real and lasting commitment to building the affordable homes we desperately need.’[3]

[1-3] http://www.propertywire.com/news/europe/uk-first-time-buyers-2015050410462.html?utm_content=bufferbe5dc&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

 

About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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