According to a recent report from the Institute for Fiscal Studies (IFS), rising house prices and upcoming changes to stamp duty are making it increasingly difficult for young adults to move out of the family home. Triangle Legal Services, an expert in online conveyancing, has warned that the situation could worsen when the new stamp duty rules come into effect later this year.
The report reveals a sharp rise in the number of young people living with their parents, with the proportion of 25-29 year olds in the family home increasing from 20% in 2006 to 28% in 2024. The trend is most pronounced in regions such as the South West and East of England, where house prices have risen by 58% and 56% respectively during the same 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.”
The problem is especially acute in London, where soaring house prices have led to a growing number of multi-generational households, with parents in their 50s and 60s often providing long-term housing for their adult children.
“We see these struggles daily in our conveyancing work,” says 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 helping buyers overcome the challenges of entering the property market. They provide clear, accessible advice and offer a range of flexible services, from one-off consultations on stamp duty issues to comprehensive conveyancing packages designed to meet the individual needs and budgets of their clients.