Only three per cent of homebuyers last month were aged 18 to 30, down from 12 per cent a year ago, according to the National Association of Estate Agents. This dramatic dip suggests a betrayal of a whole generation's aspirations and a long-term shift away from the property-owning democracy promoted by Margaret Thatcher.
The reasons for this trend are clear: a boom in house prices caused by an acute shortage of supply, exacerbated by mass immigration. Crippling stamp duty, tough new deposit rules, and income requirements for mortgages are making property ownership unattainable for all but the richest young people.
Ministers are urged to move this divisive crisis up their agenda for the sake of society's long-term health and fairness to younger generations.
