How Stamp Duty Cuts Will Add Strain to the Hotel of Mum and Dad

A report from the Institute for Fiscal Studies (IFS) has revealed that rising house prices and upcoming changes to stamp duty are driving more young adults to stay in the family home. Triangle Legal Services, a specialist in online conveyancing, has warned that these challenges are likely to intensify when new stamp duty thresholds come into effect later this year.

According to the study, the proportion of 25-29 year olds living with their parents has increased significantly, rising from 20% in 2006 to 28% in 2024. The trend is most pronounced in regions where property prices have surged, including the South West and East of England, which have seen price rises of 58% and 56% respectively.

“These numbers tell a troubling story,” says Karen Rieveley, Consultant Solicitor at Triangle Legal Services. “When the stamp duty threshold drops from £425,000 to £300,000 in April 2025, first-time buyers will face even steeper costs – on top of already challenging deposit requirements.”

London has been particularly impacted, with escalating house prices leading to a rise in multi-generational households. Many parents in their 50s and 60s are now providing long-term housing for adult children unable to afford their own homes.

“We see these struggles daily in our conveyancing work,” says Rieveley. “It’s why we’ve doubled down on making the legal side of buying a home as straightforward as possible.”

To help buyers navigate these difficulties, Triangle Legal Services offers clear, jargon-free guidance. Their services include one-off consultations on stamp duty issues and bespoke conveyancing packages tailored to the financial circumstances and needs of first-time buyers.