For some first-time buyers the barrier is no longer saving for a deposit, but affording the monthly mortgage repayments.
Sam Cartwright, 25, from Wrexham, has saved £15,000 and began looking at properties locally, priced at around £150,000. But he said the ongoing cost of owning a home made buying on his own feel unrealistic.
“You’re constantly being told 10% deposit. I’ve got a 10% deposit, but it’s the additional costs to the mortgage rates,” he said.
“You’re talking between £700 and £1,000 per month for a mortgage, and then you’ve got your council tax, your heating, your electric, your water… and that’s before you even get to food and fuel.”