Despite the Help to Buy programme and others like it, the number of first time buyers in the UK fell last year, according to a new report published by Halifax. Attempts to reach the first rung on the property ladder has been difficult, but with high rising house prices over the last few years it has become even more of a challenge. The number of first timers to purchase a house last year totaled 310,000. This is a decline of more than 1,600 compared with the year 2014.

As the number of first timers entering the market has fallen in the last year a corresponding increase in the average amount of first time deposit has occurred. It now sits at £33,000.

This increase in deposit and fall in first time buyers has prompted many to admit to an idea which was likely to come to the surface. The reality of the UK housing market is finally catching up with the programmes and methods of assistance which are available to first timers to help them reach the property ladder.

Lucian Cook of property agents, Savills, commented on the latest figures from Halifax, saying: “Help to Buy is largely fixed to the new homes market. It’s whether there are enough homes to go around. And I also think this generation is not fully aware of what is available, or how it works.”

The average amount of deposit in 2015 was more than 12% higher than a year prior. This increase was mainly due to the size of deposits paid at closing as well as the rising cost of homes.

Cook added: “It puts into context what younger generations are facing, and the importance of their continuing reliance on bank of mum and dad to get the mortgage.

“I’m not surprised at these figures, because mortgage regulation and the desire of the Bank of England not to have a debt-driven economy means that there’s only so much cash to go around.

“High deposits are here to stay, I think”.