Why the Stamp Duty Land Tax Changes Won’t Help the Hotel of Mum & Dad

WEMBLEY, UK. 15th January, 2025 - Rising house prices and upcoming tax changes are forcing more young people to live with their parents, according to a new report from the Institute for Fiscal Studies (IFS). Triangle Legal Services, which specialises in online conveyancing, warns this trend could worsen when stamp duty rules change this year.

The study shows that between 2006 and 2024, the number of 25-29 year olds living in their family home jumped from 20% to 28%. This shift is most dramatic for 25- to 34-year-olds living with their parents in areas where house prices have soared, including the South West and East of England, which saw increases 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."

The impact is particularly visible in London, where sky-high property prices have led to a surge in multi-generational living, with more parents in their 50s and 60s housing adult children. 

"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."

Triangle Legal Services understands that buying a home can be confusing and overwhelming, so they strive for simple, jargon-free communication. They also offer flexible support options, ranging from one-off consultations about stamp duty implications to full conveyancing packages tailored to the buyer's specific situation and budget constraints.