‘Less than half of homeowners are under 35’

Since 2001, there has been a ten per cent fall in the number of adults aged under 35 who own their own home, which brings the overall figure down to 49 per cent, according to Propertyfinder.

The firm said that many who expect to own a house between the ages of 29 and 35 are drastically overestimating their chances, while over three million of today’s over-30s will spend their retirement in rented accommodation.

Chief executive Warren Bright said that although the desire to own a home remains “deeply ingrained in the national psyche”, young adults are likely to remain frustrated.

He commented: “Neither profound social changes in the way we live, move and work, nor high house prices have diminished Britain’s appetite for bricks and mortar.

“But many people’s eyes are bigger than their wallets and they are likely to be disappointed.”

According to property website Rightmove, the average property price in the UK is now £222,859.