Saturday 23 June 2018

'Boomerang children' return to parents' home to save deposit

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Mark O'Regan

Mark O'Regan

'Boomerang children' are increasingly returning to their parents' home as property prices continue to soar.

With sky-high house prices and rents, thousands of millennials now find themselves 'trapped' in an adolescent limbo well into their 30s.

Often they have returned after graduating from university. Some still live with their parents even after marrying or forming a long-term relationship.

According to the latest census data, almost 460,000 adults are still ensconced in their childhood bedrooms - and many of them see their parents' home as their best chance of owning property.

This figure represents an increase of 19,396, or 4.4pc, in the past five years. Some 270,000 of these are men, while 190,000 women over the age of 18 are still in the childhood home. Among those aged 30 to 49, there were more than twice as many men as women still living with a parent (67,594 compared with 32,037). A further 152,269 are students. Some 215,088 are at work while 66,516 are unemployed.

Property experts say the 'failure to launch' phenomenon is likely to grow in the coming years.

Sunday Independent

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