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Twenty-somethings 'dreaming of buying a property'

A majority of young people in the UK see owning a property by the age of 30 as a "realistic goal", according to a poll conducted by loan provider Alliance & Leicester.

However, rising house prices in recent years appears to have made this ambition harder to obtain - with the average first time buyer age rising from 28 to 29 in recent years.

Across all age groups, Alliance & Leicester also found that 67 per cent of people bought their first property prior to the milestone age.

Head of mortgage products at the firm, Richard Taylor, said: "Being a home owner for the first time is something most of us desire, preferably earlier in life - even in an uncertain housing market we’re seeing those under the age of 30 feeling confident and optimistic about the prospect of getting onto the property ladder before they say goodbye to their twenties."

The Alliance & Leicester research also revealed that shared home ownership - which generally makes homeowner loans cheaper to pay off by splitting the financial burden - was seen as a sound choice by many 18 to 29-year-olds questioned.

Half saw renting with a partner prior to purchasing a property as a "natural progression" - and getting married was also a key goal for 49 per cent of those asked.

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