Stuck living at home after graduation

University film production graduate, Nicholas Moysey, has been living at home with his parents since he graduated in 2022.

He even secured a job as a post-production assistant, but housing has been a different situation.

“I had dreams of finding a job and potentially moving out fairly quickly, but three years later and three years after finding a job in the industry that I studied for, it never happened.

“I tried to persuade friends to move to London with me in 2022 but none could because of the cost. Then, a year ago, when a friend asked me to move out with him, I turned him down for the same reason.”

London private rental prices saw a 6.9% increase in the 12 months leading to 2024. There has been no indication of prices decreasing since.

Zoopla also reported that the average renting household in London would spend more than 40% of their income on rent.

“It’s better to stay at home and save money than to rent now. If rent was a third of your salary, I think people might do it but when it’s half or over a half of your salary, it makes almost no sense to rent,” Moysey said.

Many university graduates, including Moysey, have expressed their concern about the long-term disadvantages of renting and how it could prevent them from eventually being homeowners.

Moysey said: “I’m worried if I move out and rent, I’ll get stuck renting for life and be unable to build up the savings possible to afford a mortgage.

“We were taught in some way that if we work hard, get good grades and go to university, we would be able to afford a house and a family. The reality of all that doesn’t feel like it exists anymore. It feels almost impossible to achieve.”

Moysey felt frustrated and angry, saying that “these were the cards my entire generation are now forced to play with”.

However, the production assistant has plans to move out with his girlfriend soon, having serious discussions about prices and affordability.

“I love Bethany so I really hope to move out with her this June. We have had conversations about what we can afford realistically and moving out of London but within a commutable distance,” Moysey said.

Moysey added: “I think only through collective action can we force the government to make the system work for us again. All of us are in exactly the same boat and all of us are the country’s future voters, parents and grandparents. We need to set aside other divisions and start asking for what we all collectively want. Stability, growth and cheaper living.”