The property ladder is becoming increasingly difficult to get onto for first time buyers, according to new figures released by the Council of Mortgage Lenders.

The first time buyer’s typical loan size in February was £119,000. People on the national average salary of £26,500 will have a hard time securing finance to get this level of loan.

One of the contributing factors is that many current homeowners do not want to move because of the fear they may well not be able to get a new home, causing the market to stagnate and prices to rise, at the same time that demand is going up.

The chief economist of the Royal Institute of Chartered Surveyors said that “It is a major concern that we are not seeing enough houses coming on to the market. For the market to operate effectively, we desperately need more homes in areas where people want to buy and live. Until this happens, we’re likely to see prices continue to rise.”

This ties in with Ed Balls’ criticism of the Help to Buy scheme, that is does not promote house building or growth in the market, and will cause a housing bubble, and eventually, burst, leaving the taxpayers out of pocket, with nowhere to live.