A leading estate agency is claiming to have invented an acronym for a new kind of demographic to go alongside ‘yuppies’ and ‘dinkies’.

‘Rogers’ has been coined by Jackson-Stops to identify a worrying and modern phenomenon within the housing market – young buyers who are Reliant On Grandparents and Equity Release for a deposit to get onto the property ladder and also look after their young children.

The estate agency says the acronym has never been so relevant today, not just for millennials juggling parenting and career growth, but also downsizers as grandparents increasingly choose to stay local to give their support.

These trends are driven by the widening gap between earnings and house prices over the past five years, and also spiralling nursery fees, with many young FTBs turning to grandparents both for deposits but also to look after their children during the ‘nine-to-five’.

Property laws

“Just like the laws of property,” says Nick Leeming, Chairman of Jackson-Stops, “The demand and supply of childcare is impacting moving decisions and migratory trends across the country.

“As childcare becomes the new postcode priority, we’re seeing three generations reshaping the market: grandparents relocating to be the ‘village’ young parents need, and young parents moving closer to home to help support their little ones.

“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. These tight family networks are once again driving where people live.”