House prices are set to quadruple over the next two decades reaching over £900,000 and forcing millions to stay in their childhood bedrooms well into their thirties, a study has warned.
The report from KPMG and Shelter claims that over half of all 20 to 34-year olds will be living with their parents by 2040.
Others - also locked out of the housing market by spiralling prices - will have to rent long-term.
A separate report from Nationwide reported property prices had leapt by 10.9% year-on-year in April - the first time in four years that annual growth has hit double figures. It is the biggest annual price increase since 2007.
It comes as Ed Miliband promises to drive up the standard of the private rented sector, introducing a cap on private sector rent increases, as landlords become his latest "vested interest".
The Labour leader will warn of "terrible insecurity" for those renting because of poor standards in the sector, and the threat of sudden increases in price.
"The next Labour government will legislate to make three-year tenancies the standard in the British private rented sector. Tenants can't be surprised by rents that go through the roof."
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