A previous post looked at the challenges young people face when trying to make a start in life.
I looked into how house prices and student debt upon graduation have changed over the past 15 years.
In the period 2000-2015:
- Average UK house prices increased 2.4x – from £80k to £194k
- Average student debt upon graduation is projected to increase 14.9x – from £2,960 to £44,035
Combined with stagnating wages and limited pension provision there is an ever increasing wealth gap between the generations. This surely must rise up the political agenda as young people realise the profound implications of economic trends and government policy.
Sources: Nationwide house price index: http://www.nationwide.co.uk/about/house-price-index/download-data
Student loans company: http://www.slc.co.uk/media/5420/slcsfr012014.pdf