More Young Aussies Are Living With Their Parents For Longer
Startling new figures released by the Australian Institute of Family Studies show that 43 per cent of people aged 20 to 24 were living in the family home in 2016, up from 36 per cent back in 1981.
The number of 25 to 29-year-olds remaining at home has also risen, from 10 per cent in 1981 to 17 per cent in 2016.
It's been revealed that young Australians in our capital cities are more likely to remain in the family home than their regional counterparts, and young men are more likely than women to remain at home well into their twenties.
But surprisingly, the trend towards young women delaying moving out of home is actually growing faster than that for young men.
This may be down to younger people getting married later in life than in the past.
The institute's director Anne Hollonds, believes the increase in time spent in the family is due to "a range of factors including the cost of housing in capital cities and time spent in higher education"
"Both the cost of housing and time spent in education have gone up, but what's gone down is security of employment for young adults. Employment for them is less secure even if they do have higher education."
"The other factor is that we're delaying partnering; typically people set up their own place when they settle down into a relationship. That's being delayed to closer to 30 now, during your twenties you're not necessarily even looking for that relationship."
"What's gone down is security of employment for young adults. Employment for them is less secure even if they do have higher education."