A long way from home

FIVE-MINUTE GUIDE TO... GETTING ON THE PROPERTY LADDER

- By Harvey Jones

NEW START: Living the dream

THE DREAM of home ownership is fading fast for millions of young Britons, as almost a third of would-be buyers now believe they'll never own a home.

Soaring prices, tougher lending rules and years of political uncertainty have turned what was once a natural milestone into a distant hope.

New research from the Building Societies Association (BSA) shows that 29% of people who want to buy believe they'll never manage it, while 44% of non-homeowners say they expected to own a home by now.

Affordability pressures remain the biggest problem, with almost six in 10 unable to raise a deposit and more than half struggling with monthly repayments.

BSA head of mortgage and housing policy, Paul Broadhead, said the dream of owning a home has turned into a sense of defeat for too many.

"The financial barriers are well known, but policy uncertainty and the complexity of the process are now part of the problem too."