Flying The Nest: New research reveals the UK’s family living situation
As average UK rent prices reached a whopping £1,1010 in 2021¹, new research from regulated property buyers GoodMove has revealed that half (50%) of UK adults had moved back in with their parents over the pandemic.²
Delving into the topic further, GoodMove also spoke with parents on the age their children permanently moved out of the family home, along with the best and worst parts of having their children live with them.
And with annual inflation rising by 4.8%³ in December 2021, is the boomerang phenomenon replacing children flying the family nest?
As house prices and deposits reach an all-time high, both millennials and Gen Z have been labelled generation-rent. But does a lack of fixed abode influence their ability to permanently fly the nest?
Astonishingly, according to the research, an incredible 50% of UK adults moved back to their parents’ during the pandemic, with 19% still living permanently in the family home.
When asked what age their children had moved out, respondents reported that children are most likely to leave the home aged 19-25, with 60% moving out in their early 20s. Meanwhile, a quarter (24%) fly the nest aged 18 or under, and 16% move out after the age of 25.
How do parents feel about their children returning to the nest?
Undoubtedly, there can be advantages and disadvantages to adult-children living with their folks, from financially to socially. But what did Brits vote as their biggest positives and drawbacks about living with returning kids?