City A.M.
Stuart Haire has been CEO of Skipton since 2023.
The ‘stark’ affordability crisis facing Britain’s would-be homeowners is locking a generation out of the market, according to a new report.
The research – created by Skipton Building Society in partnership with Oxford Economics – finds 98 per cent of adults living with their parents cannot afford to buy a house in their local area.
The five million people in this position, around a quarter of the UK’s young adults, have been “trapped” by a faulty system, says Skipton’s boss Stuart Haire.
“[Looking at the index] was one of these stark moments where you realize that a generation has been locked out of home ownership and are being trapped at home,” Haire says. “It’s very jarring.”
“The social and economic consequences of this are quite