By Marcus Leach

A new survey released by Halifax has shown that two thirds of young people who are not yet on the property ladder believe they have no prospect of doing so.

The poll of 4,000 non-homeowners showed that 77% maintain hope of owning their own home, although there is a danger the wealth gap between homeowners and non-homeowners could widen as rentals increase.

With higher deposits and tougher lending criteria many have been put off buying. However, the report said there was 'undue pessimism' among potential first-time buyers.

47% of those surveyed, who did not own their own homes, said they would like to save for a deposit but had no spare cash to do so.