The comparison site also discovered that the average age at which Brits expected to be able to buy their first property was now 37 years old.
The number of mortgage products currently available to first-time buyers stands at just 1,337 as of today, a drop of 187 products since the same time last year.
Prior to the credit crunch there were 14,940 such products available in July 2007.
The average loan to value for products available to first-time buyers was 78% equating to a deposit of £33,000 for a £150,000 property.
The number of mortgages available for those with only a 10% deposit was 209 up 20% on 2011 and the average interest rate for those mortgages dropped by 1.14% since April 2009.
Clare Francis, mortgage spokesperson at MoneySupermarket, said: “For years it has been something millions of people aspire to and therefore it’s surprising to see that this may be changing and that some people are giving up on the hope of ever owning their own home.
“To a certain degree it is perhaps understandable. Despite a stagnant housing market in many areas of the country, property prices remain exceptionally high. Coupled with this, mortgages remain hard to come by with the number of loans available to those with a small deposit well down on the pre-credit crunch days. Rising living costs are also making it harder for aspiring first-time buyers to save that all important deposit.”
Around two-fifths of people said that they would rent until they had saved enough to pay for a deposit for a new home
Just 9% of would-be homeowners have already saved for a deposit, yet a hopeful 6% said they would rather play the lottery for a home deposit than ask their family and friends (5%).
Some 6% hoped that house prices would drop further, reducing the amount they needed to save.
Francis added: “Many are taking the decision to rent for longer while they save a large enough deposit to buy their first home.
“While we have seen an increase in the number of mortgages available up to 90% of the property’s value, the rates on these deals are still higher than if you can scrape a larger deposit together.
“On the plus side the flat housing market means aspiring homeowners can take their time to build up a deposit as they don’t have to worry that prices will become unaffordable if they don’t buy now.”
