Becoming a first-time buyer is the most expensive it has been for over 70 years, according to a new report by the Building Societies Association.

The report, written by housing market analyst Neal Hudson, finds that successful first-time buyers increasingly require additional financial support from the “so-called bank of Mum and Dad” and two higher-than-average incomes.

Meanwhile, those without family help or on single and lower incomes are “stuck” in the rented sector and being excluded from home ownership.