Research released on Tuesday disclosed that only 8% of Irish adults under the age of 30 have a favourable disposition towards their mental wellbeing. The study, conducted by Ipsos on behalf of the National Youth Council of Ireland (NYCI), reveals a significant concern among this demographic about their financial capabilities in terms of owning a home or establishing a family.
The study, carried out on 750 individuals within the age bracket of 18 to 30, discovered that one third of those interviewed were seldom or never hopeful about their future. The percentage was higher, registering at 39%, among individuals aged between 27 and 29, and women spanning all ages within the study at 38%. Half of the individuals participating state that their mental wellbeing is low.
When asked to identify the three foremost socio-political issues impacting Ireland, 67 per cent pointed to housing, 62 per cent to the cost of living, and 28 per cent to immigration. Additional issues such as mental health, crime and unemployment were also frequently mentioned.
The survey findings draw attention to the struggles encountered by numerous young people as they endeavour to transition out of their family home in an era of escalating rents.
Out of those interviewed, 52% are still living with their parents, with the percentage increasing to 62% in rural areas compared to 49% in urban zones. Only 13% of the participants actually owned their own home, usually with a mortgage. More than half of these homeowners had required financial assistance from their parents to enter the property market.
The study further revealed that those aged between 18-22 hope to purchase their own home at an average of 30.4 years of age, while individuals aged between 27 and 29 believe that 36.9 years is an attainable goal.
In the context of their current living conditions, 52% were generally content. However, the percentage drops to 43% among women. Participants renting were less favourable compared to those who lived with family or owned their home. Only 39% of renters stated they were pleased with the space available and 50% expressed satisfaction with the quality of their accommodation.
Over half of tenants or mortgage payers have faced a hike in their payments in the past year, necessitating tough financial decisions and cutbacks in various spending areas. Without royal offspring, the median age respondents indicated they’d prefer to begin a family was 31, but considerable expenses such as housing, health and child-care were routinely cited as barriers that could potentially postpone these ambitions.
According to NYCI’s CEO Mary Cunningham, the results highlight “two essential areas”. She says the data provides an insight into the everyday challenges faced by today’s youth. She noted that the signs of financial fear animate worries about fiscal stability and future opportunities, while the accommodation crisis reflects a scenario of life goals and aspirations deferred.
She further stated that the effects of these issues are significant, impacting the day-to-day life of young people, as well as their capacity for future planning and personal satisfaction. On a wider scale, this could potentially have long-term effects on social unity, particularly if younger generations feel increasingly marginalised, unsupported, and deprived of opportunities to reach critical life milestones.