UK home ownership is becoming harder for young people, according to David Thomas, outgoing chief executive of Barratt Redrow. In a BBC interview, he said current conditions for first-time buyers are among the toughest since the 2008 financial crisis. Thomas cited higher interest rates, student loan repayments and stagnant real wages as key factors making purchases difficult in 2026, noting affordability issues without government support schemes. Younger Britons face simultaneous pressures from rising economic inactivity and barriers to home buying. Former health secretary Alan Milburn’s review warns that one in six young people, or 1.25 million, could be outside education, employment or training within five years without urgent intervention. Milburn attributes the problem to outdated systems in education, health and welfare that hinder labour market entry rather than to young people themselves. He advocates incentives for employers to hire youth, avoiding experience requirements that create a Catch-22, and reforms to health and disability benefits that may worsen inactivity. Declines in entry-level jobs, Saturday work and apprenticeships over the past decade have also contributed. New data expected Thursday will show whether the number of young people not in education, employment or training nears one million, the highest in over a decade. Those who secure jobs still struggle with housing costs, as Thomas highlighted ongoing affordability challenges for first-time buyers.
