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According to housing charity Shelter, there is now even more reason to be a depressed youngster in modern England. With uni fees tending to now be around £9000 yearly in addition to a dearth of jobs, it appears that the housing market is giving us another few problems to say the least. The charity has reported that on average -assuming that the deposit needed by the home-buyers is 20%- it will take single people in their twenties over 14 years to purchase their own home, whilst it should take a young couple with children nearly 12 years to earn enough money for a deposit. When taking a look at the figures regionally however, it is even more frightening.

There is no surprise that London is the worst place in England for affordability. The average house price in London may seem acceptable at £278,417 but compared to the North East, which is the easiest area to buy a house in England according to the research, then the result is truly staggering. On average, house prices in the North East are a mere £74,981 which by my calculations, is a huge £203,436 less than the average  price of a house in London. The average price in England itself is £139,920. Bad news for us Londoners. So what about renting? Well, renting is also on the rise, with LSL Property Services saying that by 2015, the average rent in England and Wales could reach £800 a month, 21% more than it was in 2010. Bad news for us youngsters.

The controversial budget for this year aimed to help people buy their own homes through The Help to Buy scheme, which allows all purchasers to put down a considerably low 5% deposit down on a newly built home, whilst 20% of the cost of the home will be funded by a shared-equity loan which will be free of interest for the first five years and the remaining 75% will be paid through a mortgage.On top of this, for people struggling to make it onto the property ladder, the shared ownership scheme provided by housing associations enables people to buy a share of their home between 25% - 75% of the home's value, whilst the remaining share can be paid through rent. For example, if a house was worth £100,000 someone could purchase a share of £70,000 and would have to pay the rent on the remaining £30,000 share. Ooooooo technical.

FUN FACT: In April, 18 Carlton House Terrace near Trafalgar Square was put on sale for £250 MILLION. It has more living space than a football pitch, with 50,000 sq ft of living space and if sold will become the most expensive property ever sold in the UK. The image below is said place ... wow!