The average age of a first-time buyer has risen by two years in the space of a decade according to the latest research by Go.Compare home insurance.

The comparison site analysed official government data which showed that the average age of a first-time buyer in 2024 (the latest available) was 33 – two years older than in 2015. This is also one year older than the average age at the start of the current decade, suggesting that it’s now taking house hunters longer to make it onto the property ladder.

The analysis showed that the average first-time buyer age was last at 33 just over 20 years ago, in 2004, and also in 1990, indicating limited progress over the last three decades. A survey by Go.Compare also found that just over two in five (43%) UK adults are yet to buy their own home, and that only around a quarter of under 25s own a property.

As well as this, the survey suggested that first-time buyers may be becoming more reliant on new builds to get onto the property ladder compared to previous generations. Homeowners under 35 are more likely to have bought a new build as their first property, with almost half of this age group saying this compared to just 15% of over 55s.

Just over a third of under 35s said this decision was driven by convenience/availability, while around a quarter (26%) mentioned it was due to cheaper buying costs. However, the main reasons overall were that they thought new builds would have fewer issues (picked by just over half ) and that they’d be able to make savings in the long term due to lower maintenance costs and better energy efficiency (picked by 42%).

Nathan Blackler, home insurance spokesperson at Go.Compare, said: “It’s clear from these figures that it’s now taking Brits longer to get onto the property ladder than it was a few years ago. This is likely down to a combination of the country’s unrelenting high house prices, along with buyers having less disposable income to put towards a house deposit due to a rise in living costs.

“In fact, some of our recent research found that many Brits are giving up on the possibility of home ownership, with only one industry paying an average salary high enough to cover the average house price.

“Although buying your first property may take longer than it would’ve 10 years ago, it’s important not to give up on it completely. Remember that there are ways to minimise your expenses and boost your prospects, especially if you’re able to stay disciplined and stick to your budget.

“With costs remaining high across the board, regularly comparing prices for things like your energy bills and home insurance will help you stay on a cheaper rate. Meanwhile, utilising budgeting apps could help you find areas to cut your spending, like subscription services you aren’t using anymore. Small changes like this can make a big difference over time.”