THE vast majority of UK teenagers do not believe they will ever be able to buy a home.

Research by the Open University found that 70 per cent of those aged 16 to 18 do not think a property will ever be theirs.

A combination of rising house prices and lack of wage growth is keeping many from owning a place of their own.

In total, 1,000 teenagers took part in the survey.

Martin Upton, of the university’s business school, said inflation could push property dreams further out of reach.

He said: “Today's younger generations face huge hurdles to get on the property ladder.

“High rents increase the difficulty of saving up for the increasing deposits required to afford high property prices, while they also need to think about student debt, little or no growth in incomes, and auto-enrolment pension contributions.

“And there is also the prospect of inflation pushing up both living costs and interest rates.”

Many first-time buyers need to rely on outside financial help, such as the “Bank of Mum and Dad” of the Government’s Help to Buy scheme.

The findings come as recent official figures show buying a home is becoming even less affordable. Over the past year, the average value of a home in Britain has risen £11,000 to £226,000.

Jeremy Duncombe, director of Legal & General Mortgage Club, said: “Limited stock and high demand continues to drive annual house price growth, and it's only making homeownership a more exclusive club.”