Almost half of those surveyed claimed that they never intended to buy, while 91 per cent of home owners were not intending to move.
Of those who did not believe that they would have the option to buy, 46 per cent said they did not think they would ever be able to afford it.
Location also played a part, with 55 per cent of people in the South believing they would not be able to buy a property, compared to 39 per cent in the North.
Consumer confidence has reportedly hit an all time low, with one in 10 Brits concerned about their ability to pay bills and meet repayments.
More home owners were likely to make improvements to their home than move, with an average of £11,142 likely to be spent on renovating property.
Nearly one-third of young home owners aged 25-34 were planning major improvements, including conservatories, loft conversions or extensions, fitting a new kitchen or bathroom, the survey stated.
Jim Hodgkins, managing director of CreditExpert.co.uk, said: “With consumer confidence, it’s understandable that people are feeling that home ownership is out of their grasp or that they should be ploughing money into home improvements rather than moving.”
Louise Cuming, head of mortgages at moneysupermarket.com, said: “This would stagnate the market. You’ve got more first-time buyers in difficulty and homeowners are not intending to move so this is hitting the housing industry hard.”
