Will I ever be able to buy my own house? – Student Shout
A question that plays on my mind almost everyday, what does the future hold for me?
It currently seems pretty bleak, with topics such as climate change and Brexit plaguing the news everyday.
However, one that caught my attention was that of housing for young people and it really got me thinking. Will I ever own a house?
Getting on the property ladder has become much more difficult compared to 50 years ago, with statistics from The Institute for Fiscal Studies showing house prices in England have risen by 173 per cent over two decades.
In comparison, the average pay for 25-34 year olds has grown by just 19 per cent over the same period.
It’s a daunting comparison that only makes life seem a lot more stressful than it already is.
With choices as to whether we should stay in education, which job we aspire to achieve and trying to put happiness and living a life first, I feel there is a lot on young people’s plates.
I looked into the price of my old three bedroom family home in house in Portsmouth, where we lived for five years. When the house was first sold in 1999, it was valued at £64,000. However when it was sold again in 2015 by a new owner, it went for £212,000.
It’s a difficult situation to be in. Do we young people choose to rent over the course of our lives, facing restrictions from landlords? Or live at home until we are 50, attempting to save until we can at least manage to afford a deposit on a house?
While the government have set up schemes to help us such as Help to Buy, most young people have a lot on their plate.
While we all wish we could save, run a car, pay rent at home and have a life, sometimes it is not feasible. There is no clear plan set out for young people and at some point many of us will be looking for help, and in some cases we may never find it.
Lauren Wise is journalism student at Highbury College.