Younger people are failing to get on housing ladder and have no sense of belonging
Younger people, dubbed ‘Generation Rent’, are unable to feel part of the local community due to being ‘frozen out’ of the housing market, according to a new report.
The research, by the Institute for Public Policy Research (IPPR), says the problems created by this also mean around 100,000 18-30 year olds are putting family plans and career ambitions on hold.
Out of the 18-30 year olds surveyed, 51 per cent said they felt they would be unable to buy a property for at least a decade.
‘Generation Rent’ are also being put off starting a family, as many are still living with their parents and unable to afford to have children. Half a million more young people live with their parents than in 1997.
Being unable to buy a home also stops young people feeling part of the community, as according to the report a renter would need to live in the same area for 14 years to achieve the sense of belonging purchasing your own home would give you.
Dalia Ben-Galim of the IPPR said: ‘Insecure renting stops them from putting down roots, but it is also bad for society too.
‘Our analysis finds that home ownership has a big effect on people’s sense of belonging to their neighbourhood.’
The report recommends that more land is freed for development, increased building of homes and protecting tenants from rogue landlords.
The IPPR report added: ‘It is not the case that the young people we spoke to want everything, with no sacrifice immediately.
‘They just want a chance to grow up, develop their lives, build careers and form relationships – and they need decent quality, affordable homes in which to do so.’