Housing crisis preventing young people becoming homeowners
- 22 May
The housing charity Shelter has warned that only 20% of 25-34 year olds will be on the property ladder in 2020, which is a 60% drop from the last ten years.
A report has said that the number of young people able to buy homes could fall by almost 50% within the next five years, unless the government addresses the housing shortage, reports the Guardian.
The report by housing charity Shelter looked at government figures which showed that the number of new homes last year was well below the level needed to meet demand.
Many young people are now stuck in private rented accommodation, with Shelter warning the number of renters could rise by 2.3m by 2020. Those living in rented accommodation have also seen their rents rise by 4.6% over the past year.
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