UK house prices: A quarter of people living with parents don't think they will be able to afford to move out until they are at least 35, according to new research

 
James Nickerson
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Over 400,000 people believe they will only ever get on the housing ladder if they move abroad (Source: Getty)

A quarter of people who currently live with their parents don't think they will be able to afford a home until they are at least 35, according to new research.

Research from the Consilium Strategtic Land Fund revealed that a further 12 per cent don't think they will be able to buy a home until they are 40, and six per cent don't ever think they will be able to afford a home.

Interestingly, over 400,000 people believe they will only ever get on the housing ladder if they move abroad.

Read more: Young home ownership has fallen to a record low

In fact, people who have managed to climb onto the housing ladder over the past five years have had to move on average 17.8 miles from their parent's home to an area where they could afford to buy a home.

The new research comes a month after data revealed the percentage of young people who can afford to buy a home has fallen to its joint lowest level.

Read more: Home ownership is a distant dream even for middle England

Data on the rental market also show how London rents grew 6.3 per cent year-on-year in December.

Responding to the findings, Melanie Leech, chief executive of the British Property Federation said:

In order to ensure that young people are not priced out of London, we need to see more support for the build to rent sector. This sector offers a high quality private rented offer, often offering long-term tenancies and fixed rental increase.

There is £30bn investment ready to enter the sector and to deliver new homes, government needs to harness this to ensure that the capital can retain talent and remain competitive.

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