The average age of “re-nesters” – adults returning to live at the family home – is 26, although 21 per cent of those surveyed were aged over 30.
Aisha Pinto-Pamben, 25, is one such person who moved back into her family’s home in Romford for just under five years after graduating in 2020.
She started to save for her deposit seriously in 2022 using the Moneybox app – saving £11,000 in a Lifetime ISA, and this got topped up with £2,000 via the government bonus.
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Shared ownership allows people to buy a slice of a property – from 10 to 75 per cent – while paying reduced market rent on the rest of the portion. The rest is owned by a landlord, normally a housing association, to whom the owner pays rent and service charges.
However, it was a scheme that worked for Aisha who bought a 25 per cent share of a two-bedroom, two-bathroom apartment in L&Q’s Barking Riverside development in east London earlier this year.
“I’d love to think that more and more Gen Zs are looking to step onto the property ladder but am fully aware that without schemes like shared ownership, it’s just not possible. It’s getting even harder in the current climate, where it feels like we’re living pay cheque to pay cheque.”
With many Britons still renting well into their forties, home ownership can feel out of reach, but it is still something people see the value in, Aisha said.
Ian Newborn, now 44, a software developer from Coventry, also returned to the family home at 25 at his mother’s suggestion, having lived at home for his final two years at university in Birmingham.
“My mum was very good about it. It was a bit weirder with my dad because he was struggling with me being grown up.
After two years back at home, Ian had saved £6,250 towards the 10 per cent deposit on a flat he bought for £125,000.
“I was clear that I wanted a place of my own when I moved in and my mum was happy to help.”
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