The average asking price of first-time buyer properties on the property listing website has stayed broadly stable at about £155,000 over the past year, while the gap between what a new buyer could borrow and the deposit they need to raise ahs narrowed.

The report measures the so-called affordability gap – the sum first-time buyers need to find once they have raised the maximum mortgage based on their household income in order to buy the average first-time buyer home.

This has narrowed from £70,300 in December 2008 to £51,700 in March, however, 50% of those surveyed by the report said raising a deposit was their biggest barrier to home ownership.

Nigel Lewis, of FindaProperty.com, said: ‘This month, however, with lenders being more generous and property prices largely stable, the effective deposit is a bit smaller, making it easier for first-time buyers than since the start of the credit crunch.

‘The cloud on the horizon is that prices are starting to show signs of upward pressure which could make homes more expensive over the coming months, if there remains a shortage of stock. More properties are coming onto the market, but there are still 12% fewer entry-level homes available than a year ago.’