Property News in the UK

UK property news and links to various property websites. mortgage news, house price news, interesting properties for sale.

Monday, June 26, 2006

Finances 'Forcing many to live with parents.

Adults are being forced to move back in with their parents due to rising houseprices and soaring levels of debt, research showed today. An estimated 4.3 million single people aged between 25 and 50 have moved back to the family home after being unable to afford to live alone, according to dating firm

Four out of 10 single people said high house prices meant they were unable to buy their own place, while 'unrealistic' rents on one-bedroom apartments meant they could not even afford to rent.

Others cited the amount of unsecured debt they had taken on as being the main obstacle to their independence. More than half of all singletons who live with their parents owe between £10,000 and £20,000 in unsecured debt, and 21% owe between upto £50,000 through credit cards, overdrafts and loans. The research found that just 42% of single people in the UK lived by themselves, compared with an average of 56% across Europe, rising to 81% inSwitzerland. A further 3% of single Britons admitted that financial constraints were forcing them to continue living with former partners.

Men are more likely to live at home than women, with 26% of single men livingwith their parents, compared with just 15% of women.

If you want to see just how much house prices have increased over the last few years go to >>>


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