More people in late 20s still living with parents

A highly influential think tank study concludes that the phenomenon of young people, particularly those in their 20s, still living with their parents is not merely an impression or concern, but an objective reality based on facts. Data from the Institute for Fiscal Studies (IFS) shows that the proportion of 25 to 34-year-olds still living with their parents has increased by more than a third in the past two decades.

Researchers have found that this trend of living with parents is mainly driven by men and young people approaching 30. High rents and rising house prices are considered to be the main reasons for this change. This trend indicates that more and more young people are choosing to stay in the "nest" rather than live independently.

In 2006, about 13% of 25 to 34-year-olds in the UK lived with their parents. By last year, this proportion had risen to 18%. This means that approximately 450,000 more young adults are still living at home, with the growth mainly concentrated in the age group approaching 30. Among the 25 to 34-year-old population, men are more likely to live with their parents than women, with proportions of 23% and 15%, respectively.

The Institute for Fiscal Studies points out that this age group has changed in recent decades, with a lower likelihood of getting married and having children. In addition, their ethnic composition is more diverse. Young people born in the UK with Bangladeshi and Indian backgrounds are more likely to live with their parents. During the pandemic, the proportion of adult children living with their parents peaked, with over one-fifth of 25 to 34-year-olds doing so. Now, in more normal times, parents may hope that their grown children will "fly the nest," but many 20-somethings wish they had the ability to do so.

The Institute for Fiscal Studies states that the economic situation is a significant obstacle, with rising rents and house prices exacerbating this trend. Zach Murphy, a 25-year-old from London, who used to share an apartment with two friends before moving back in with his parents, expressed his concerns to the BBC. The BBC's new housing tracker shows the challenges the government faces in meeting housing construction targets. Zach is pursuing a master's degree in environmental science and is eager to find a better job, but renting alone is "simply impossible unless you want to live in a shoebox," and buying a home remains out of reach. "Saving money is getting harder and harder. It feels hopeless to buy a house in London," he said.

Jess Waring-Hughes, a 32-year-old business manager, shared her experience in April of how she struggled to save money to buy a home on her own. Moving back in with her parents felt "strange" because she was back in her childhood room, which meant she was in danger of regressing to her teenage years. The Institute for Fiscal Studies concludes that some young people can save money by living with their parents. About 14% of them accumulated more than £10,000 in savings within two years, while it is estimated that only 10% of young people living in private rentals can do so. However, this is not universal, as some may face higher commuting costs, or some may have moved back home due to financial difficulties. Bee Boileau, a research economist at the Institute for Fiscal Studies and one of the authors of the report, said: "For some, living with parents offers an opportunity to accumulate savings faster than renting, which is particularly valuable in high-cost areas like London. However, others may be living at home due to some kind of setback - such as the end of a relationship or being made redundant - or simply because they cannot afford to live independently." Housing is one of the most important issues people contact us about through "Your Voice, Your BBC News."