A report by Aviva has shown that more and more families are discovering the financial benefits of intergenerational living as high house prices, increased unemployment and care issues impact.
The report states that around three-quarters of people in the UK have lived with other family members after turning 18, with some returning to the parental home three times as their circumstances change.
Director at United for All Ages Stephen Burke said, ?We are likely to see more households sharing space, costs and care.?
?It makes economic sense, but it also has social benefits: from reducing loneliness and sharing the caring to increasing understanding between generations.?
?Families have chosen to live together as a way to ?survive and thrive? in hard times. We need society and government to recognise and support this trend.?
Aviva have estimated that with rising house prices, increased youth unemployment and the cost of care in older age those who had chosen to live with family had saved an average of ?225 a month.
Stephen?Burke commented that the current government policies do not do enough to support this growing trend. There is not enough support for live-in carers and planning rules make it difficult for people to change their homes to accommodate several generations.
He said, ?Some people are in a better position than others to house their family ? there could be more done to planning policy around allowing people to either adapt or extend homes.?
The survey used in the?Aviva report revealed that almost 3 million people aged 20-34 were living with their parents in 2011, a 20% increase on the number in 1997. This group said that they had lived with parents while looking for a job, waiting to go to university, whilst studying or immediately after their course was over.
Angus Hanton, co-founder of the Intergenerational Foundation said, ?As this report makes clear, rather than striking out on their own young people are having to resort to dependent living because of record levels of rent, food and energy price inflation, few jobs and few prospects.?
?Moving back home in order to save enough money to enter a housing or rental market rigged against the young is?intergenerationally unfair.?
Angus?Hanton described the opinion that young people living at home?were, ?sponging off mum and dad,? was no longer the case. He stated that around 10% of those surveyed had moved in with an older relative in order to care for them.
Chief executive of the charity Carers UK, Helena?Herklots said the organisation was seeing more people taking on greater caring responsibilities for their parents and relatives.
She said, ?There are over 6 million carers in the UK, many of them are making huge life changes including moving in with parents needing care and giving up work to care because of the lack of flexible services.?
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Source: http://wswifa.com/young-adults-forced-to-return-to-the-family-home
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