MORE than 250,000 people have given up on the idea of ever owning their own home in the last year alone.

For the first time in five years there has been a drop in those aspiring to own a home, according to the 2017 Homeowners Survey.

The survey conducted by the HomeOwners Alliance shows that 71 per cent of Brits now aspire to be homeowners, compared to 73 per cent in 2016. This equates to around 253,166 people who have given up on the idea of home-ownership.

Paula Higgins, chief executive of the HomeOwners Alliance said: “The HomeOwners Alliance has been tracking views of consumers for five years now, and these latest findings show that the housing crisis is deepening across the UK. This in turn is impacting on people’s aspirations to get on the property ladder. While we are used to stories about people not being able to buy a home until they are 40, the story has taken a turn for the worse with people are increasingly giving up altogether on the dream of home-ownership.”

Among the aspiring homeowners surveyed, 86 per cent said house prices are their biggest concern – an increase of three per cent since the last survey. Meanwhile 85 per cent said saving for a deposit is a serious problem and 80 per cent are worried about the availability of homes.

Across the country the figures reveal a deepening housing crisis, according to the HomeOwners Alliance, particularly in the capital with 87 per cent of Londoners concerned about house prices. In Wales 87 per cent were also concerned about prices, and in the East of England, 85 per cent. Availability of housing is a worry for 81 per cent of Londoners and 82 per cent of those living in the South West. Meanwhile 68 per cent of those in Yorkshire and Humber and 68 per cent of those in Northern Ireland raised concerns about being able to repay a mortgage.

Ms Higgins said the lack of new homes being built and changes to the government’s Help to Buy scheme have also affected confidence: “While aspiring homeowners’ concerns about house prices, saving for a deposit and housing supply grow, the change in political rhetoric around home-ownership and a lack of new homes being built in the last year, plus the removal of flagship government schemes like the Help to Buy mortgage guarantee, appear to have had a negative impact on consumer attitudes. People are feeling less optimistic about their chances of buying their first property.”

Kim Vernau, chief executive officer of BLP Insurance said it was important for the government to put housing high on its agenda: “It is important that, post the election result, the provision of housing is seen as a critical requirement and the results of government consultations prioritised into action. In the absence of this, the opportunity for aspiring new homeowners to get on the housing ladder will only continue to deteriorate.”