It’s as true today as it has always been – getting on the housing ladder isn’t without some sacrifice. Paul Hogarth of Knight Frank reports.

Hardly a day goes by without a report on the bleak outlook for first-time buyers but is it as bad as it seems?

Research from the Co-operative Bank says almost a quarter are delaying getting married or starting a family to save money to buy.

They are sacrificing holidays and lowering expectations.

Well, Hallelujah! I mean, is it such a bad thing that those who want to climb the ladder need to save to do so, and perhaps won’t be able to furnish their first home with a 100 inch plasma screen, remote control curtains and hot tub in the garden?

Only 10 per cent of Britons owned a home in 1914, and for many of our parents, a secure council-house tenancy was the limit of property ambition.

Some few decades on and Mrs Thatcher famously encouraged home ownership; but until recently, those who did buy property worked hard and saved hard for years to do so, thankful for the security and stability, even if it meant sitting on cardboard boxes for a few months before being able to afford decent furniture.

There was no ‘fully fitted kitchen with integrated washer dryer and microwave’.

While I have sympathy for anyone struggling to get on the property ladder, with the current house price redress properties will be cheaper than they were two years ago.

This, combined with the Government assisted schemes and new homes incentives means it is actually not a bad time for first-time buyers to save up and make that step into ownership.

Paul Hogarth is partner and head of new homes sales and marketing in the South East at Knight Frank. You can contact his residential development team by calling 01483 564 660.