Average house prices in Britain have more than doubled in 15 years, forcing many to continue to live with their parents for longer, according to a government report published Wednesday.
Last year, 58 percent of men and 39 percent of women age 20 to 24 in England were living with their parents, up 8 percent and 7 percent, respectively, from 1991, the Office of National Statistics said in its latest social trends report.
"Some adults remain at home while in education or because of economic necessity, such as difficulties entering the housing market," the report said.
The average cost of housing for first-time buyers increased by 204 percent between 1991 and 2005. During the same period, the average income rose 92 percent. On average, first-time home buyers paid 141,229 pounds ($278,567) in 2005, compared to 46,489 pounds ($91,663) in 1991.
First-time buyers are having to fund a higher percent of the price as deposits, the report said. The average deposit in 2005 was 27,300 pounds ($53,821), or 19 percent of the average cost. Ten years earlier, the average deposit was 4,800 pounds ($9,465), or 10 percent of the average housing price.