People in their 20s will look to save and wait until they reach 30 rather than buy a house, it has been suggested.

Jane Marr, director at the Little House Company, said that homeownership would become a realistic goal at 30 after pay increases which meant people no longer had to save as much money for a deposit.

She commented that the lack of first-time buyers was "very worrying" for the housing market.

"They are needed to create a buoyant housing market and to keep things moving. The fact is the average person cannot find the huge deposits now required by lenders," she remarked.

Rightmove recently found that the number of first-time buyers has declined to 25.8 per cent since the first quarter and this is the second successive fall in the housing market, 40 per cent of which is sustained by new buyers.

The average age of a person looking for a new home was highest in London at 30, whereas in the north it was found by the Council of Mortgage Lenders to be 27.

First-time buyers may wish to consider using self storage facilities.

Written by Emily Sanders