'Over one million adults living rent free with parents'

News Category: Marketing

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Letting agents may benefit from marketing their properties to a growing number of adults who are opting to live with the parents.

According to Abbey Mortgages, there are 1.6 million 18 to 34-year-olds in the UK residing with their parents and friends rent free.

The financial services provider calls this group kidults and claims that this phenomenon is not unique to any particular social background.

Nici Audhlam-Gardiner, Abbey Mortgages director, commented: "Whilst an adult living at home until their 30s is more associated with our continental cousins, Abbey Mortgages research shows that this is a trend that is on the increase here in the UK as well."

Over 270,000 adults in London live rent free, while those living in the south of England are twice as likely to live with others for no cost compared to those living in the north-east and north-west of the country.

Not only is the price of property keeping close to two million adults at home with their parents, but it is seeing a number of homeowners place their properties on the lettings market.

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