Some 44% of renters in the UK believe they will never own their own home, with not being able to afford a deposit the most common reason for not getting on the property ladder, and just 2% of renters plan on getting on the property ladder this year, according to an independent survey by Keepmoat.

The average house price in England and Wales now stands at £178,000, according to the latest Land Registry figures, although significant regional variations exist. The average price of property in the capital is currently £462,799.

Despite houses in the North generally being more affordable, non-homeowners in Liverpool at 62% were the most likely to say they never expect to purchase a property. This was followed by 60% in both Newcastle and Glasgow and 41% in London.

Not being able to afford a deposit was by far the most common reason for not getting on the property ladder, cited by 56% of respondents. The pressure of saving a deposit was also the top concern for those hoping to buy a home at 58%, with 61% of this group saying they will be saving their own deposit.

Some 38% of home owners polled said it took between two and five years to save for a deposit although it took 13% of those polled up to 10 years to save their deposit.