Young people outside London fear they’ll ‘never succeed’...

Exclusive: Data reveals young people outside the capital feel increasingly pessimistic about their financial future, job prospects, and chances of homeownership. Young people living outside London are significantly more likely to feel pessimistic about their future, with many fearing they will never be able to afford a home, save for retirement, or earn enough to support a family, new data reveals.

Image Credit: The Independent [Londoners were also less likely to feel they would never earn enough to raise a family]

Exclusive statistics seen by The Independent show that young people in London answered every question about their financial prospects more optimistically than the national average. In contrast, those in the East and West Midlands, Yorkshire and the Humber, Scotland, and Wales reported the lowest confidence levels.

Image Credit: The Independent [Joe, 27, wanted to stay near where they grew up in Portsmouth but struggled to find a way into a suited career path locally]

The findings come from The King’s Trust’s annual youth index, which measures the attitudes of 16-to 25-year-olds across Britain. Despite soaring property prices in the capital, young Londoners remain the most hopeful about one day owning a home, with only 25 per cent believing they never will. That figure jumps to 41 per cent in the East of England and 37 per cent in Wales, rising even higher in cities like Portsmouth, where 55 per cent doubt they’ll ever be able to buy.

Image Credit: The Independent [After leaving college at 19, Emily began to search for jobs in her field of study but was ‘rejected and ghosted’]

Londoners are also less likely to believe they won’t earn enough to support a family, with 23 per cent expressing concerns – 7 per cent lower than those in the East Midlands. Meanwhile, 23 per cent of young people in London fear they are “going to fail in life”, compared to a staggering 36 per cent in Wales and 34 per cent in the East Midlands.

Similarly, just 25 per cent of young people in the capital believe they won’t be as successful as their parents, while in the East Midlands and Yorkshire and the Humber, the figure rises to 39 per cent and 36 per cent, respectively. The numbers are even higher in cities such as Liverpool (47 per cent), Bristol (47 per cent), and Portsmouth (45 per cent).

Joe, 27, wanted to stay in Portsmouth where they grew up, but struggled to find a career path that suited them. After earning a first-class degree and a master’s from Brighton University, Joe spent 12 months attending 41 job interviews without success.

“I’ve always believed in starting out local, but geographical limitations played a part in what opportunities I had,” they told The Independent. “I still had to be near home for my parents and sister, and moving away from my social network would have been very negative.

“Creating different kinds of jobs needs to be the emphasis. It felt like the only options here were to either work in a cafe or in the military.”. After dozens of rejections, Joe began to lose hope until they discovered Explore, a King’s Trust wellbeing and personal development programme at the jobcentre. Joe credits the scheme with helping them regain the “mental space” to continue applying for jobs and has since secured full-time employment in their desired field.

The data also highlights the impact of financial fears on young people’s mental health, with 41 per cent saying concerns about their future have worsened their wellbeing. In London, this falls to 33 per cent – 16 per cent lower than in the East Midlands. In Liverpool, 51 per cent of young people say financial stress has negatively affected their mental health.

Emily, 21, from Leicester, is one of those affected. After leaving college at 19, she spent 18 months searching for jobs in graphic design and photography but faced repeated rejection. “I thought I’d maybe get a job within a couple of months,” she said. “It really hit me mentally. It felt like I was in a pit of worthlessness, thinking, ‘Why don’t people want me?’.

“They would just reject me – I wouldn’t even get a reason why. I changed my CV a lot, but it was always the same outcome. Rejected and ghosted.”. Emily was determined to stay close to home in Leicester, ruling out job opportunities in London where the market is larger.

“Trying to get a job in London would have been very difficult. It’s a really expensive city compared to Leicester, and I don’t feel like employers would want someone who had to commute on the train each day, even if that is something I could do,” she said.

Reflecting on the challenges facing her generation, she added: “When it was my parents’ time, it was so much easier to do things like get a house. But now, because of the economy and everything skyrocketing in price, it’s just so much harder for young people. It feels impossible.”.

After months of frustration, Emily enrolled in a 12-week King’s Trust programme to boost her employability skills, later joining the Get Into Health and Social Care programme, which provided her with hands-on experience. She has now secured a job in the NHS and says the course changed her life.

“I’m so happy I went for it. It helped me find my passion and a job that I love so much,” she said. “I never thought I would find a role in the NHS, but look where I am now.”. Jonathan Townsend, UK chief executive of The King’s Trust, said: “The King’s Trust TK Maxx youth index highlights the deep uncertainty many young people feel about their futures. Concerns about job security and career prospects are negatively impacting young people’s mental health and their confidence in achieving their life goals.