Taking the first step on to the property ladder can be very daunting and overall the average age at which people buy their property has risen, but owning a home does remain the goal for a lot of people.

Nationally, the Help to Buy scheme has so far helped more than 71,000 people to buy their own home. More than 80 per cent of those benefiting from the scheme are first time buyers. The average price of a home purchased under this scheme is £180,000, which is well below the national average. Moreover, 94 per cent of the sales have taken place in areas outside London.

House building is now at its highest level since 2007. The Help to Buy scheme is intended to help people access an affordable mortgage and it supports responsible lending.

During December, a new scheme was launched which will offer 100,000 first time buyers new homes with a 20 per cent discount.

From the start of January 2015, aspiring home owners under the age of 40 will have the chance to apply for the Starter Home initiative. Nationally, local councils and house builders are considering sites which could be used for new homes.

There will be measures to prevent these homes from being re-sold at market value for a fixed period, so that this means the savings from the scheme will remain with the people who are taking their first step on to the property ladder.