The poll also reveals that of the percentage of people not saving, two fifths have never saved at all. In addition, the average age savers begin to save is currently 25.

The level of financial worry for some is shown by 64 per cent of people who have never saved saying they didn’t know when, if ever, they would be able to start.

Kevin Mountford, head of banking at moneysupermarket.com, said: “It comes as no surprise that with the rising cost of living, large numbers of people feel they have no cash to put aside at the moment. However we really do need to see an attitudinal shift among UK consumers and see regular saving become part of everyday household budgeting.”

According to the new research, a working mother could be up to £98 a month more out of pocket after child and work costs are accounted for. Thousands of families may be put in the potential position of relying on single salaries, while the Aviva study shows that a huge 95 per cent of UK families don’t feel financially protected against the loss of an income source in their household, possibly forcing them into a quick home sale to tie up major loose ends.

Louise Colley, head of protection for Aviva and also a mother of four-year-old twins, said: “Families today face an array of money worries, as this report shows. But the unintended consequences of not having protection in place can be huge – both financially and emotionally – should the unexpected happen.”

Post Office Mortgages revealed that the age at which individuals become homeowners has been rising gradually since the 1960s, when the average property buyer was aged just 23; this is over a decade younger than their modern counterparts.

The organisation reported that over half (53 per cent) of would-be buyers aged between 25 and 34 believe they won’t ever be able to afford a deposit for a house unless their circumstances change.

Looking at the problem regionally, those who want to sell their home in London may have most difficulty in securing a deal with first-time buyers, with 43 per cent of Londoners saying they could not afford a deposit for a home in their current situation.

Head of mortgages at the Post Office Mike Cook said “Many would-be first-time buyers may have been put off trying to get onto the housing ladder by the size of deposits now needed. And some may be deterred by their perception of high mortgage repayments.

The Royal Institution of Chartered Surveyors (RICS) this week published the UK Housing Market survey (September 13th). In it the group states that sales seen by their members over the first three months to August dipped slightly to an average of 14 per month. This puts sales on a par with June 2009 levels.
In addition, the level of stocks fell to 67 compared to 70 the previous month. In response to these statistics, the majority (79 per cent) of respondents stated that sales most likely remained subdued to economic uncertainty. While 70 per cent said limited availability of mortgage finance was having a negative impact.

RICS housing spokesperson, Alan Collett, said: “[The] risk is that the worsening economic picture will gradually begin to have a more material impact on sentiment and discourage potential house purchasers even where mortgage finance is available.”

Their recently published Residential Lettings Survey, July 2011, shows that in the three months to July, demand for rental property continues to outpace supply.

Due to continued interest, rents also increased during the period, potentially tempting property buyers to consider becoming buy-to-let landlords. Of those surveyors polled, 34 per cent more reported rent rises rather than falls. The survey also suggested that rent increases were also likely in the coming months.
Those looking to sell their homes fast will be disappointed to hear that would-be buyers are still being put off making home purchases by difficulty to find a mortgage, with first-time buyers in particular struggling to meet deposit requirements.

Demand for rental property is so great, the RICS survey reports that more tenants than ever are seeking assistance from the government and turning to social lettings with. social lettings now at their highest level since the series began in 1999, at 13 per cent of all new lets.
Nevertheless, private renters continue to make up the majority of lettings, at 66 per cent.