Jackson-Stops reported rising numbers of working parents in the suburbs who rely on grandparents and equity release, referred to as ‘ROGERS’.
The agency said this trend followed a decade of house price inflation, stagnant wage growth and increasing nursery fees.
Average house prices went up 61.7% since 2014, while wages increased by 10.7%.
Nick Leeming, chairman at Jackson-Stops, said: “Just like the laws of property, the demand and supply of childcare is impacting moving decisions and migratory trends across the country.
“Millennials who are often hit hardest by affordability pressures, now in the 30s and 40s with families of their own, were also the generation that used a new dominant market lender: the bank of Mum and Dad.
“Often from equity release of those who benefitted the most from house price inflation since the early 2000s, this was key to many getting on the ladder in the first place.”
Leeming added: “These tight family networks are once again driving where people live.
“The Silent Generation’s typical parenting style was hands-off, with arguably less of a need placed on them compared to the financial pressures on young families that we see today.
“In many ways, families are closer than ever before – an unexpected upside of shifting socio-economic dynamics. We’re in the golden era of family life.”
Jackson-Stops listed Elmbridge, Surrey as the area with the highest average nursery fee outside London, at £7.68 per hour and house prices at £898,894.
Sevenoaks, Kent was tenth on the list with nursery fees at £6.57 per hour and house prices at £611,494.
Alastair Hancock, director at Jackson-Stops Sevenoaks, said: “Parents moving back to support their children as they navigate young family life is becoming increasingly common – particularly from baby boomers who recognise the wealth earned from their homes over the past decade, simply by doing nothing, has a consequence of dimming the homeownership dream for young people as the affordability gap widens.
“I have just helped a couple in their late sixties move from a rural village to a townhouse closer to Sevenoaks, allowing them to gift equity to their daughter and look after their young grandchild twice a week.
“This is not an uncommon story. Likewise, we have young families buying here from London to be closer to the grandparents for support.”
Hancock added: “Whilst the financial benefit is obvious, the desire to create a tight family unit is a wonderful thing – enriching for both sides.”
In London, Kensington and Chelsea had the highest nursery fees at £13.02 per hour and house prices at £2,096,902.
Bexley, Havering and Barking and Dagenham were the only boroughs with childcare under £7 per hour, with house prices below the London average.
Crispin Harris, director at Alderley Edge, said: “It is no big secret that the further away from London you go, there tends to be more financial freedom.
“Buyers from all over the country will choose the North West, craving a better quality of life.
“I’ve seen families move back here to where they grew up, drawn in by closer family support and community networks. These are things that just can’t be replicated.”
