Young being held back by debt
Published On 4 October 2006
High living costs and large debt are forcing young people to delay owning a home, according to new figures.Research by engage Mutual Assurance has found that a quarter of Britons are waiting until they are over 30-years-old until they get their first home, while debt has pushed the average age of marriage up from 24 in 1986 to 27 in 2006.
Those in the capital are feeling the pinch of debt the most with London's residents waiting until they are over 30 to wed.
Karl Elliot, engage Mutual Assurance spokesperson, said: "These results reveal how increasing financial pressures in modern Britain are leading people to re-evaluate their aspirations.
"Money is often a key determinant in deciding when the time is right for young adults to move out of home, get married or buy their first property."
And the problem of debt is not just falling on young people but is now being extended to other family members who are having to support them, Mr Elliot added.
