The average first-time buyer is now seven years older

The average first-time buyer is now seven years older than in 1960 and needs to save around £20,000 to be able to buy a home, a study has found.

Researchers who polled 2,000 adults found a huge difference in the profile of someone buying their first home through the generations.

Today, first-time buyers will be in their thirties before they get onto the property ladder and pay a deposit of £20,622.