Decade of rises bars young people from housing market

Ten year rise in house prices hits young buyers.Ten year rise in house prices hits young buyers.
Ten year rise in house prices hits young buyers.
Big increases in house prices over the last decade has made it harder for young people in Northumberland to get onto the housing ladder, according to new data.

Despite this, fewer younger adults are living at home with their parents than ten years ago, according to new census figures.

The Office for National Statistics data shows house prices in the area have risen by an average of 33% between the 2011 census and 2021 – £135,000 to £180,000 – leaving many first-time buyers struggling to get into the housing market.

Hide Ad
Hide Ad

But figures from the 2021 census show 23,205 non-dependent children – either over-18 or between 16 and 18 but not in full-time education – were living in their family home – marginally down from 23,232 in 2011.

This bucks the trend in England and Wales, where the number of non-dependent children living at home rose by 14.7% in the last 10 years, from 4.2 million to 4.9 million.

Angus Hanton, co-founder of the charity Intergenerational Foundation – which campaigns for fairness across the different generations – said: "As these figures make plain, a toxic combination of high housing and energy costs, high tax rates, and low wages, has driven millions of young people back to the family home or kept them their, instead of striking out on their own.

"Inter-generational fairness is at risk if our children and grandchildren are unable to achieve the same milestones enjoyed by previous generations.”

Hide Ad
Hide Ad

He added: "What most parents want is for their children to do better than them.

"The census shows that, for many, their children face markedly worse prospects."

The data also shows that, in England and Wales, the average house price climbed by 56% – from £176,000 to £275,000 – between 2011 and 2021.

The Department for Levelling Up, Housing and Communities said it is providing "significant support" to help people through the cost-of-living crisis.

Hide Ad
Hide Ad

A spokesperson said: "Our Renters Reform Bill will deliver a fairer deal for renters, abolishing no-fault evictions so that all tenants have greater security in their homes."

They said it is also investing £11.5bn to build affordable homes.

News you can trust since 1854
Follow us
©National World Publishing Ltd. All rights reserved.Cookie SettingsTerms and ConditionsPrivacy notice