(qlmbusinessnews.com . Thu 25th Sep, 2025) London, UK —
Struggling to Afford a Home? Insights from Young Adults Facing the UK's Housing Crisis
Leoni Clancey and her partner had dedicated several years to amassing savings with the dream of moving out of their family homes to start a life together in their own rented property. However, after a mere nine months, the harsh realities of soaring living costs forced them to return to their respective family homes, with Leoni, at 21, finding herself sharing a room with her 10-year-old sister once more.
This predicament is becoming increasingly common among young Britons, who find the financial demands of homeownership or independent renting unattainable, caution industry specialists. A startling statistic from the Skipton Group reveals that approximately 90% of young adults residing with parents would have to allocate nearly half their income to cover the expenses associated with moving out.
Leoni, while maintaining a good relationship with her family, expresses a sense of displacement: “It just doesn't feel like it's my place.” The regression into a dependent living situation has taken a toll on her sense of independence and her relationship. “Not being able to see my partner, not having the life that we had, taking that massive step back from the independence I had… I just don’t think it’s fair,” she laments.
The financial strain of running a home proved too great a hurdle. “When I first moved in, I did have some savings ready; by the time we'd moved out, they'd gone,” Leoni explains, identifying utilities, council tax, and rent as key financial burdens.
A report by the Office for National Statistics highlights a rising trend in adults living with parents, with figures swelling from 4.2 million in 2011 to 4.9 million in 2021, excluding those in education or primary caregiving roles. Research by Skipton Group for its biannual Home Affordability Index, based on data from the Office for National Statistics and a survey of 2,000 adults, confirms the grim reality that nearly 98% of these individuals cannot afford the average first-time buyer's home in their area. High living and maintenance costs consume a disproportionate segment of their income, rendering independent living a financial impossibility for many.
Stuart Haire of Skipton Group empathizes with young people’s challenges, emphasizing the need for solutions to this growing issue. The situation not only affects the young adults but also imposes financial constraints on their parents, who potentially miss out on downsizing opportunities.
Propertymark echoes this sentiment, indicating that the combined pressures of utility, insurance, mortgage, rent, and maintenance expenses, particularly for those attempting to secure their first home, are daunting, exacerbated by lower income levels compared to existing homeowners.
Amidst these challenges, Leoni and her boyfriend remain hopeful, actively saving towards securing a mortgage on their own property. They aim not just for the initial deposit but also for refurbishing, furnishing, and emergency contingencies.
Dan Wilson Craw of Generation Rent underscores the importance of expanding housing options, including social housing to cater to lower-income individuals, to alleviate the difficulties in starting careers or relationships due to housing constraints.
The government acknowledges the crisis, promising a focus on increasing the minimum wage and constructing the 1.5 million homes deemed necessary to address the housing shortage.
For those striving towards acquiring their own home, several strategies are advised, including joint purchases with siblings or friends, exploring mortgage products with initial payment holidays, utilising Lifetime ISAs for accumulative bonuses towards a deposit, considering shared ownership schemes, and in Wales, the possibility of a loan for first-time buyers of new-build homes. These avenues provide some hope and options for young individuals navigating the challenging landscape of homeownership in the UK.
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