Average house prices in Britain have skyrocketed by more than 270% over the past two decades – with a significant acceleration for property values since the financial crisis a decade ago – pushing homes out of reach for growing numbers of people.
Among one of several signals that young adults are being forced to wait until much later in life to reach key milestones, the Office for National Statistics said it took until the age of 34 for more than half of the population to own their own home, compared to 26 in 1997.
Among one of several signals that young adults are being forced to wait until much later in life to reach key milestones, the Office for National Statistics said it took until the age of 34 for more than half of the population to own their own home, compared to 26 in 1997.
The ONS said it is not until the age of 19 that more than 50% of people are in full-time employment, with the average age of leaving full-time education rising from 17.8-years to 19.3-years in the past two decades.
The first age when more than half of young people had left the parental home has also risen from 21 in 1997 to 23 in 2017.
No comments:
Post a Comment