JLL Residential

Bank of Mum & Dad 2017

About the report

JLL Residential Research shows the Bank of Mum & Dad in London and South Eastern England is worth an estimated £103 billion and could assist in the purchase of more than £1 trillion worth of homes in the UK. In conjunction with YouGov, JLL has undertaken an in-depth study looking at the impact that the Bank of Mum & Dad and inheritance will have on the UK housing market. As well as quantifying the average pot from the Bank of Mum & Dad and the expected inheritance, we also asked the public about their views on housing affordability and the role of the Bank of Mum & Dad.

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Quantifying The Bank of Mum & Dad

  • The Bank of Mum & Dad in London and South Eastern England is worth an estimated £103 billion
  • It could assist in the purchase of more than £1 trillion worth of homes
  • Between a quarter and a half of all home purchases in London and South Eastern England could be assisted by the Bank of Mum & Dad
  • The average hand out per child from the Bank of Mum & Dad in London and South Eastern England Is £24,800
  • The average Bank of Mum & Dad pot is £55,300
  • 70% of parents say all monies passed down will be pure gift
  • 26% of parents will use inheritance passed down to them to help their children onto the housing ladder

Download the PDF    See AVG Value of Help Per Child Map See Total Value of Financial Help Map 

Inheritance

  • A staggering £1.77tn could be passed down in inheritance from families in London and South Eastern England
  • At least 5.2m households in London and South Eastern England are preparing to pass on some inheritance
  • The average inheritance pot is £318,000 which includes a broad range of households from non-homeowners to the super-rich
  • Surprisingly only 65% of inheritance funds will go directly to children with grandchildren and other family members also set for a windfall
Download the PDF  See avg Inheritance per Child Map  See Total Value of Inheritance Map

Attitudes

  • 77% of people think it is disgraceful that housing has become so unaffordable, especially for young adults
  • 76% believe it will be even more difficult for young adults to be able to buy in 20 years’ time
  • 66% believe that UK homes being increasingly owned by a privileged few will become a social problem for the UK
  • 36% believe parents should consider all manner of ways to help their children buy a home
  • 14% think parents should downsize their home and pass on part of the proceeds to help their children buy a home
  • 12% think parents should be more thrifty with their spending so that their children are better able to buy a home

Download the PDF