"The Parent Landlord phenomenon is a temporary fix, not a workable solution, and our study has highlighted the strain that adult kids living at home can put on family life"
- Paul Walker - Latimer
New research shows that parents across the UK are stepping up to support their adult children with accommodation in the face of an increasingly challenging property market. With affordability barriers making it harder than ever for young people to buy their first home, the majority of parents (53%) are willing to act as ‘Parent Landlords’ and open up their doors to help their children save.
However, the study commissioned by Latimer, the development arm of Clarion Housing Group, also highlights the growing financial and emotional burden on parents looking to support their child’s path to home ownership. According to the research, 49% of parents feel financially responsible for helping their children buy their first home, yet 66% who want to provide financial support simply can’t afford to. Meanwhile, 54% of parents believe their children won’t be able to step onto the property ladder without their help, creating a difficult financial dilemma for many families.
The study reveals shifting attitudes towards adult children living at home. While 32% of parents believe their children should be ready to leave by ages 22-25, a surprising 23% are happy to support them for as long as needed. This shift reflects a growing flexibility in parenting styles, as the multiple challenges of rising rents, inflation and steep deposit thresholds facing first-time buyers become more widely recognised.
Despite this willingness to support their children, multi-generational living is not without its challenges. Parents cited lack of privacy (27%), financial strain (20%), and unequal division of household chores (20%) as some of the biggest sources of tension in the home. In addition, almost a third (32%) admit they would not be comfortable with their adult child’s partner moving into the family home, with 30% stating they would feel frustrated or overwhelmed by the situation.
TV presenter, home expert and parent herself, Amanda Lamb commented: “The financial pressures of homeownership are clearly taking a toll on families. Parents want to help their children financially, but many simply don’t have the means to do so outside of opening the doors to the family home and letting their children stay while they save, which in itself can cause a strain on family life.”
In terms of a potential solution, the survey identified shared ownership as an area Parent Landlords believe could help, with 61% agreeing that shared ownership should be more widely available to help their children get on the property ladder.
Paul Walker, Sales and Marketing Director at Latimer adds: “Young adults face many challenges in today’s housing market and are increasingly forced to turn to their parents for accommodation support. However, the Parent Landlord phenomenon is a temporary fix, not a workable solution, and our study has highlighted the strain that adult kids living at home can put on family life.
"With lower deposits required to secure a first home, shared ownership offers a way out, providing first-time buyers with a means of taking that crucial first step onto the property ladder, and at Latimer, we are committed to expanding access to shared ownership.”
