First-time buyers find it almost twice as hard to get on the property ladder as they did a decade ago, a leading housing charity has said.
Shelter warned of spiralling repossessions and increased homelessness as a result of the struggle faced by families trying to find homes they can afford.
Its annual Affordability Index revealed that mortgage costs swallowed up more than 21% of average household income in 2006 compared to 11% in 1996.
The charity added that it is harder now for people to enter the property market than at any other time since the index began in 1994.
First-time buyers in almost every region face their most difficult struggle ever to secure their first home, research revealed.
New buyers face housing ‘tightrope’