Housing unlocked: Advice for first time buyers in the Midlands

Money's exclusive research shows that the majority only purchase their first property after receiving help from their families. Credit: Rui Vieira/PA Wire/Press Association Images

A new study has revealed that the average age for people to get onto the housing ladder has risen to 31 years.

Money's exclusive research shows that the majority only purchase their first property after receiving help from their families, while many of their parents bought first homes while in their twenties using 100% mortgages.

This "battle to buy", particularly the need for a massive deposit, is freezing young people out of the property market.

Estate agent Savills suggest that property prices in the UK will rise by 19.3% by the end of 2019, meaning that getting onto the property ladder will continue to become more difficult for young people.

Experts continue to emphasise the importance of preparation, in terms of finance and research, to make the move easier.