The stresses and worries involved in covering housing costs are affecting millions of people across the UK, according to a new piece of research on the subject.
Affordability problems are impacting individuals and couples nationwide, while huge numbers of parents are now seeing their adult children left unable to afford homes of their own for long periods.
Up to 2 million people in relationships and aged under 45 are estimated to have pushed back efforts to start families because of their housing situation and the costs involved in renting or buying a place to live.
The Affordable Housing Commission recently hired YouGov to poll around 2,000 people about the finances of housing to assess how living situations are being impacted by the challenges associated with the costs of renting or buying.
It emerged that around one in eight people cite their housing situation as a cause of strain on their mental health, which rises to one in four people where rent or mortgage payments each month equate to over a third of a person or a couple’s monthly income.
Another issue highlighted by the commission’s research is that potentially as many as 2.4 million adult Brits are living with their parents, who either don’t expect them ever to be able to move out or who think that process might take 10 years or longer.
Around 10 per cent of all the people polled said they currently live with their friends or family members, with that figure rising to 18 per cent among those aged between 25 and 34.
“The housing system is hindering, not helping, millions of people – particularly those who are putting off big life decisions because of it,” said Lord Richard Best, chair of the Affordable Housing Commission.
“Unaffordable housing, especially in the private rented sector, is now a serious strain on people’s mental health and a barrier to having a better life.
“We need a fundamental rethink and structural change to rebalance it and ensure it works now and for future generations.”
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