The Institute of Fiscal Studies reveals the biggest drop in home ownership in the last 20 years among young adults on middle incomes.
Latest research shows an inflation in house prices over a slowly growing income, leaving younger generations without the possibility affording their own dwelling. Chances of owning a house have more than halved in the last two decades with only 32% of homeowners being 25 to 34-year-olds.
65 % of this age range citizens owned a home back in 1995 in Southeast England, 38% more than the registered results in 2015-16.
This translates into increasing numbers of qualified workers including like teachers or nurses, who could once comfortably buy their own home, are now stuck renting into their thirties. Young adults earning between £22,200 and £30,600 per year are the most affected by this housing crisis, meaning buying is completely beyond their budget.
Ownership rates in the UK have been regularly declining since 2003, when property numbers reached its peak proportion of 71% of people owning a house.
Disparities increase between rich and poor as well as young and old, the study revels. From 2014 to 2017, 30% of millennials whose parents were lower-skilled workers owned a property against the 43% of those whose parents had higher-skilled jobs.
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