However, the extent of our hoarding may be worse than we care to admit. The research also reveals that over half (54%) of parents over 55 say that their children still store some of their belongings at their house.

Mark Kelly, director of Norwich Union equity release, said: "The research shows that we still place great importance in childhood memories and the family home. Even long after we have left the family nest, it’s clear that we still have strong connections to our parents’ home; having our own bedroom or storing personal possessions there is almost our way of saying ‘I can still call this home’.”

"While we are nostalgic about our childhood possessions, we don’t love them enough to keep them in our own homes, and are happy to let our parents clutter up their houses with them instead. It’s proof that we never really stop relying on our parents for something."

With house prices in the UK at record levels, older people who are living longer and wanting to enjoy a more fulfilling retirement may be looking to their houses as a potential source of income.

Mark Kelly added: "There is much talk about the advantages of downsizing to a smaller house as a way of releasing this capital, but our research shows that parents and children attach great importance to the family home, so moving on may not be the solution for everyone. An equity release plan could help homeowners to access the capital locked in their property while allowing them to remain in their own home."