Parents worried their children will be unable to afford their own home

One in 20 parents still depend on hand-outs from their own parents to help pay for their home

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The Independent Online

New research from the National Housing Federation shows that parents believe the main political parties are not doing enough to improve the housing crisis. Mums and dads are also increasingly concerned that their children will never be able to buy their own home.

Just over 80 per cent of parents in England of children 18 and under are worried about the impact of rising house prices on the next generation and more than two thirds predict that their children will not be able to buy their own home without financial help from the 'bank of mum and dad'.

Indeed, around a quarter of parents are already saving money for their children's first home, although one in 20 still depend on financial help from their own parents to help with housing costs.

The National Housing Federation predicts that by 2020 3.7 million young people will be living with parents and by 2030 house prices will be 13 times the average salary.

"We can’t let our children become the generation of lost opportunities," said National Housing Federation chief executive, David Orr. "Children are facing the ticking time bomb of being priced out of the communities where they’ve grown up, and many will face living in their childhood bedrooms well into adulthood or renting for the rest of their lives."

According to the NHF's research, three quarters of parents also feel that more attention and investment should be given to affordable housing, although 80 per cent do not think any of the main political parties will effectively deal with the issue.