The report by the Resolution Foundation found that young people are having to make do with longer commutes and smaller, insecure rental accommodation.

The report questions why generational fairness and housing has become such a totemic concern regarding living standards in the UK today.

It found that the pre-war generation (1926-45) spent just 7% of their income on housing at the age of 30, while the baby boomers (1946-65) spent 17% of their income on housing at the same age.

This has now reached a record high with millennials (1981-2000) spending 23% of their income on housing at the age of 30.

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Those born in the late 1940s enjoyed the highest home ownership rates, while home ownership rates for those born in the early 1980s is around half of that of those born 30 years earlier. 

“The shock election results of the last 15 months have shown that significant discontent exists about the direction that Britain is heading and housing is a huge part of this anxiety,” said Lindsay Judge, senior policy analyst at the Resolution Foundation. 

“Across the generations, many are worried about why today’s young adults have it so hard when finding a secure place to live.

“The big danger today is that young people are having to settle for lower quality, longer commutes and less security in order to afford a place to live, despite spending a record share of their income on housing.

“It is vital that all political leaders recognise the scale of Britain’s housing crisis – which is placing an ever-greater strain on families’ living standards – so that their response is suitably radical.”