The average age of a starter in England has risen from 32 just before the pandemic to 34 now, official statistics show.
This two-year increase in the average age of first-time buyers took place between 2019/20 and 2024/25, the latest English Housing Survey shows.
In London, the average age of starters is even higher at 35.
Home ownership has remained stable at 65% over the same period.
In 2024/25, 29% of people had a mortgage, 36% owned directly, 19% rented privately and 16% rented in the social sector.
The average weekly mortgage payment in England was £242 and £375 in London.
The average weekly private rent was £250 for England and £393 in the capital.
Those with a mortgage spent 19% of their household income on mortgage payments, while private rental payments, excluding housing support, amounted to 39% of income.
The research shows that only 58% of private renters ever expect to buy.
Sarah Coles, head of personal finance at Hargreaves Lansdown, said: “The combination of overburdened tenants and higher house prices means the average age of a first-time buyer has reached 34.
“It’s not surprising it takes so long to save considering the average deposit was £36,500.
“It means that the door closes to all kinds of potential buyers.
“Buying alone is much more difficult: only 29% of starters were single-person households.
“It also means you have to be a higher earner.
“People with mortgages are concentrated in the two-fifths of those with the highest incomes.”
She adds: “It means people are making compromises with real consequences. They have to pay the mortgage for longer, so of those first-time buyers who had a mortgage, almost two-thirds (62%) had a 30-year repayment term.
“They also have to buy with a down payment that is a smaller percentage of the property value.
“More than half of first-time buyers (59%) paid a down payment of less than 20%, and 16% paid less than 10%.
“Unfortunately, borrowing more means facing higher mortgage payments. Meanwhile, owning a smaller stake in the property means that if we face a period of falling prices, more first-time buyers are at risk of falling into negative equity.”