The number of first-time buyers increased by  14 per cent from 727,000 in 2018/19 to 827,0000 in the year to April, the latest English Housing Survey has shown.

The annual research published by the Ministry of Housing, Communities and Local Government also shows that the average age of first-time buyers decreased slightly from 33 in 2018/19 to 32 in 2019/20, while in London it fell from 37 to 34, although the sample size was small.

But despite these small improvements, the overall levels of home ownership did not change year on year, remaining at 65 per cent of all households or 15.4m out of 23.8m.

However, home ownership has increased since 2016/17 when 63 per cent of households were owner occupiers.

Of all households, around 35 per cent own their homes outright, 30 per cent have a mortgage, just under 19 per cent rent privately and close to 17 per cent are in social rented homes.

Over the last decade, there was an increase in the share proportion of people aged 55-64 living in the private rented sector, from 7 per cent in 2009/10 to 10 per cent in 2019/20. 

Over the same period there was a decrease in the proportion of owner occupiers aged 55-64 from 78 per cent to 74 per cent.