Rising property prices and forthcoming changes to stamp duty are leaving more young adults reliant on their parents for housing, according to a new report by the Institute for Fiscal Studies (IFS). Triangle Legal Services, a firm specialising in online conveyancing, warns that the trend could worsen with the stamp duty changes set to take effect later this year.
The report highlights a notable increase in the number of young adults staying in the family home. Between 2006 and 2024, the proportion of 25-29 year olds living with their parents rose from 20% to 28%. This issue is particularly severe in regions such as the South West and East of England, where property prices have soared by 58% and 56% respectively during this period.
“These numbers tell a troubling story,” says Karen Rieveley, Consultant Solicitor at Triangle Legal Services. “When the stamp duty threshold drops from £425,000 to £300,000 in April 2025, first-time buyers will face even steeper costs – on top of already challenging deposit requirements.”
The effects of these challenges are particularly visible in London, where rising house prices have driven a significant increase in multi-generational living. More parents in their 50s and 60s are housing adult children for longer periods due to the unaffordability of moving out.
“We see these struggles daily in our conveyancing work,” adds Rieveley. “It’s why we’ve doubled down on making the legal side of buying a home as straightforward as possible.”
To make the home-buying process easier for first-time buyers, Triangle Legal Services focuses on providing simple, jargon-free support. Their offerings range from personalised consultations about stamp duty to fully tailored conveyancing packages, designed to meet the financial and practical needs of buyers.
