Will I ever get on the property ladder?

With rising house prices and good mortgage deals hard to come by, Johanna Gornitzki wonders if she and other prospective first-time buyers will ever manage to get onto that first rung.

As a would be first-time buyer I know how difficult it is to get a foot on that first rung.

And I'm not just having a moan, promise. The reality is that first-time buyers now have to pay nearly six times more for their first home compared with their parents' generation.

On top of that, we need to stump up around twenty% deposits. Hardly surprising then that the average first timer is 37!

So can the government's new FirstBuy Scheme give us a break?

It works like this; the buyer puts down a deposit of 5%, while the government and the homebuilder provide ten% each as a low-cost loan.

But the scheme is only available to 10,000 first-time buyers. Given there were nearly 200,000 first-time buyer loans approved last year, it's a mere drop in the ocean.

It would make much more sense if the government helped people raise smaller ten% deposits instead of the scheme's 25%. This would get far more people onto the property ladder.

The scheme is likely to be popular. Sadly, it doesn't go nearly far enough to help the great majority of us wishing to bag ourselves our first home.