A recent report from the Institute for Fiscal Studies (IFS) reveals that rising house prices and changes to stamp duty rules are pushing more young adults to remain in the family home. Triangle Legal Services, an online conveyancing specialist, warns that the upcoming stamp duty reforms could make it even harder for young people to step onto the property ladder in 2025.
The study shows a sharp increase in the number of 25-29 year olds living with their parents, with figures rising from 20% in 2006 to 28% in 2024. The problem is especially acute in regions with steep property price hikes, including the South West and East of England, where prices have risen by 58% and 56% respectively during this period.
“These numbers tell a troubling story,” says Karen Rieveley, Consultant Solicitor at Triangle Legal Services. “When the stamp duty threshold drops from £425,000 to £300,000 in April 2025, first-time buyers will face even steeper costs – on top of already challenging deposit requirements.”
This growing issue is particularly evident in London, where property prices have soared, leading to an increase in multi-generational households. Many parents in their 50s and 60s are now accommodating adult children who are struggling to afford a home of their own.
“We see these struggles daily in our conveyancing work,” explains Rieveley. “It’s why we’ve doubled down on making the legal side of buying a home as straightforward as possible.”
Triangle Legal Services is committed to supporting buyers through the complexities of purchasing a home. They provide clear, accessible advice and a variety of services, including one-off consultations about stamp duty and comprehensive conveyancing solutions tailored to individual needs and budgets.
