Nearly one in three second steppers require over £20,000 in financial support from the bank of Mum and Dad to buy their next home.

For the second quarter in a row the number of home buyers are lower in London due to restricted supply and affordability.

Nationwide’s index has recorded the second monthly fall in house prices with homeowners feeling the pinch due to the economy.

A quarter of all young Britons are certain they will never own a home and half think it is as harder than ever to get on the property ladder.

Home buyer borrowing in London reduces 5% or £310 million in the final quarter of 2016 continuing the downward trend for the capital.

Significantly lower interest rates has improved mortgage affordability across the country since the financial crisis according to the Halifax.

Home buyers borrowed £11 billion in November up over 5% on the month reflecting a stable market and aspirations for home ownership.

The number of first time buyers reaches an all time high last year with more people opting for longer term mortgages of 30-years or more.

Data from the CML shows the number of loans to homebuyers is 8% lower for October indicating a slowdown in the UK market.

The cost of a mortgage as a proportion of household income has reached an historic low although there is no increase in house purchase activity.

The latest index from the Nationwide shows no change in house prices as demand remains subdued as a home purchase is less affordable.

The government has closed the Help to Buy mortgage guarantee scheme that has helped 86,341 first timer buyers on to the housing market.