The number of adults living at home with parents has increased 20 per cent in the past 10 years, it’s been claimed.And research by Confused.com suggests 43 per cent of adults currently living at home claim it’s because they can’t afford moving and rent costs.
The survey of 600 adults currently living at home with their parents comes after government data showing the number of adults aged 20 to 34 living at home jumped from almost 3.0 million to 3.6 million between 2011 and 2021.
In the Confused survey 64 per cent said they paid their parents rent, and 59 per cent also contributed to additional bills.
Those who pay rent forked out £182 per month on average to their parents. Some 23 per cent pay £200 or more. Contributions towards bills come out at an average £133 per month.
Almost half of those surveyed claim they’re currently saving to buy a place of their own, while 18 per cent are saving up to rent.
A spokesperson for Confused.com says: “There are many perks to living with parents - cheap rent, the occasional cooked meal and constant company.
“However for some, this is purely because the cost of living has become very expensive, and getting on the property ladder seems like an impossible task. And this is possibly why we’re seeing a record number of people in their 20s and early 30s living at home.
“But moving out is an extremely daunting experience. You’ve saved up the deposit, but what next? Worryingly, so many people are unaware of the additional costs or tasks associated with buying your first home. While paying towards rent and bills can prepare you for the financial commitment of living independently, the home-buying process can really take you by surprise.”
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The future looks bleak
You must be confused sure many will move back home but you think they will contribute to their Parents. I think not a bit of it, live Rent free yes have their cooking / washing done and waited on hand & foot, you think they are going to admit to that in a Survey .
"The survey of 600 adults currently living at home with their parents....."
Found 100% were living at home with their parents.
So what we are talking about here are the '' entitled'' spoilt brats then sponging off mum and dad
My children still live with me and only pay £100 a month all in…. But…. That is being placed into an account that will be given back to them when they move out (they are unaware). We are helping them a lot, but they are also saving like mad, this is just what good parents do, now if they were out all the time and spending like crazy on nonsense, they would be paying more rent.
Simon, credit to you!
Your children face a property market which has lost its compass bearings. Your team need to sit this one out. My near neighbors bought their house 18 months ago. They are now selling up and want 20% more than they paid for it. Maybe they will get this but I seriously doubt they will get their money back. Property has become too much like bitcoin.
Unlike bitcoin etc. property is a tangible asset with demand exceeding supply, so long term house prices will always go up but it's not a short term investment due to high buying costs etc.
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