First-time buyers warned: "Don't expect to own before 35"

The average age when potential first-time buyers expect to get on the property ladder is 35-years-old.

A Post Office study found the age of first-time buyers has increased steadily since the 1960s, when people were on average 23-years-old when they first bought a home.

Women expect to buy earlier than men do at 34 compared to 37 for the average male.

However, 53% of potential first-time buyers between 25 and 34-years old do not think they will ever be able to afford to buy.

Half of this age category cited they cannot afford a deposit unless their circumstances changed, such as receiving a lump sum or getting a better paid job, compared to the national average of 37%.

People buying in London have the most difficulty in raising a deposit, with 43% saying they cannot afford it without a change, compared to 22% of potential buyers in the West Midlands.

However, 32% in the West Midlands cite unaffordable mortgage repayments compared to 12% nationally.

Nevertheless, the Post Office said that four out of ten of its mortgage customers so far this year have been first-time buyers, with an average age of 30.

Mike Cook, head of mortgages at the Post Office, said: "Many would-be first-time buyers may have been put off trying to get onto the housing ladder by the size of deposits now needed and some may be deterred by their perception of high mortgage repayments.

"However, there are very competitive options available for people who are keen to own their first home and prospective buyers may not have to wait until they are 35 to take this step."