Lack of housing increases gap between generations

October 4, 2016 by Brendan

Property Market

More young people are being forced to live in the inner cities rather than in the suburbs, as a result of the housing crisis, according to the Intergenerational Foundation.

The report, produced in conjunction with Legal and General, states that there are now more areas of the UK which are dominated by those aged over 50, seven times more than in 1991. The report adds that separate lives are being led by the different generations. The study used data from 1991, 2001, 2011 and 2014 to monitor how age segregation has changed over the years.

As the organisation believes that segregation is generally due to housing problems, it has called for a range of measures, including more homes to be built which are genuinely affordable for younger people and those wanting to downsize.

The co-founder of the Intergenerational Foundation, Angus Hanton, said that young people are becoming ‘ghettoised’, paying high rents in the city centres, while the landlords are living in the suburbs. Hanton added that the problem of segregation is likely to have occurred as younger people struggle to get onto the property ladder.

According to statistics quoted by Hanton, just 5% of people living in an area with those aged over 18, are above the age of 65, compared to 1991 when 15% of those living in an area of over 18s were 65 or above.

Younger people who want to buy their first home may benefit from speaking to a mortgage adviser, who has taken a comprehensive CeMAP course to gain relevant knowledge.