Young adults aged between 18 and 34 are still living with their parents - highlighting the financial struggles they face as they attempt to buy their first home, online mortgage broker Trussle has found.
In London the number surges to more than 74% due to affordability issues continuing to face the capital.
Ishaan Malhi, chief executive and founder of Trussle, said:
“The fact that so many young people can’t afford to move out of their parents’ homes in fear of not being able to get onto the property ladder is alarming.
“Too many of them are forced to put their lives on hold in a bid to get onto the property ladder. At Trussle we’re fighting for fairer mortgages to ensure that the process is transparent and simple.
“And in turn, a process that will help young people feel empowered when embarking on what should be an exciting, hassle-free journey of buying their first home.
“Getting a mortgage is often one of the biggest financial and emotional commitments a person will make in their lives and ensuring the industry is supporting young people as they take this step is crucial.”
Almost half of those who are still living with parents are doing this to save for a house deposit.