Further to the first time buyer statistics that I added a few minutes ago, it has also been reported today that Britons do not think they will be able to afford to buy their first home until they are nearly 40 and nearly a third have given up trying to get on the property ladder.

Research has indicated that the average person who does not yet own a home expects to have to wait until they are 38 before they can afford to buy, rising to 43 in London.

A further 31% of people said they did not plan to try to buy a property at all, according to financial website moneysupermarket.com.

The number of different mortgages available for first-time buyers has increased by nearly 200 during the past year, but at 1,581, the level of choice is still running at around a 10th of the level seen before the credit crunch.

First-time buyers are also still putting down average deposits of 23% of their home's value, meaning someone buying a £150,000 property would have to save £34,500.

Clare Francis, mortgage spokeswoman at moneysupermarket.com, said: "The housing market has been hugely affected by the credit crunch and economic downturn, and first-time buyers have been hit the hardest.

"It's easy to see why nearly a third of non-homeowners do not intend to step foot on the property ladder.

"House prices may have fallen in many areas but they are still high. This coupled with the need for such a high cash deposit is pushing many people out of the market."

Housing Minister Grant Shapps said he recognises the "huge difficulties" first time buyers often face due to the lack of large deposits.

He added that £500 million had been made available over the next two years for deposits on new build homes as part of the Government's Firstbuy Scheme, and it is hoped this will help 10,000 people to get a foot one the property ladder.