Fourteen per cent rise in young adults living at home in the North East
In a recent study, it has been suggested that there are a million more young adults in the UK that are choosing to live with their parents compared to two decades ago.
The research stated that in the North East there has only been a 14 per cent rise, compared to London where there has been a 41% rise. This research, however, only looks at young adults moving out to live on their own rather than with someone else.
As an estate agent from the Sunderland branch of Peter Heron, stated: ‘There is still an influx of first-time buyers around that age bracket and haven’t seen a drop recently.’
The drastic difference between London and the North East could also be due to the difference in housing prices, and how it is typically more expensive to live in the country’s capital.
The research also mentioned the number of 25 to 44-year-olds in the UK has fallen from 1.8 million in 2002, to 1.3 million in 2017 – now many more people are sharing the costs of living with friends or a partner.
One of the most notable statistics is that the number of 23-year-olds living with their parents has risen from 37 per cent in 1998 to 49 per cent in 2017.
This rise could be due to young adults wanting to save their money for holidays, or wanting to use it for other experiences like going out drinking, or learning to drive.
Philip Aitcheson, 28, who still lives at home with his mam has said: ‘I moved out a few years ago but for money reasons and my mam’s health it was more financially viable for me to move back home.’
‘Even now if I was to move out with my partner it would be a struggle with money, after getting my wages each month and once bills come out there would be not enough money left over to do anything fun with it!’
Countries in Europe however, have shown that single living is on the rise compared to the UK. In France and the Netherlands, 35 per cent are single person and it jumps to 40 per cent in Germany and Denmark.