Forum Brief: Property ladder

Parents of would-be home owners expect they will have to contribute an average £17,000 of their own money so their adult children can gain a foothold on the increasingly expensive housing ladder.

 

A survey for the Joseph Rowntree Foundation of home-owning parents of 18 to 29-year-olds reveals that more than half who expect their children to become homebuyers think they won’t succeed without a substantial financial contribution.

 

Forum Response: Joseph Rowntree Foundation

 

Richard Best, director of the Joseph Rowntree Foundation, said: "Parents who are owner-occupiers are coming to terms with the fact that high house prices are not necessarily good news after all. The value of their own property may have risen, but their children will find it increasingly difficult to follow them up the home ownership ladder unless they are prepared to help them with a substantial gift or loan.