While there is no specific age at which homebuying becomes most affordable for everyone, when it comes to climbing the housing ladder, the greatest degree of housing affordability compared to any other life stage is our 40s, according to new market research.

Property purchasing specialist, House Buyer Bureau, analysed the average earnings, average house price, and income-to-house price ratio of buyers at various stages of the life cycle, to reveal at which point in our lives, the high cost of homeownership is easiest to overcome.

The research shows that the average 18-21-year-old earns just £13,237 per year, so they would need 21.5 times their annual income to cover the current average UK house price of £285,009.

This falls to 10.6 years for 22-29-year-olds who earn an average of £26,800 per year. With an average annual income of £34,226, 30-39-year-olds have a far better chance of making it onto the ladder, with the income-to-house price ratio for this stage of life sitting at 8.3.

Those aged 40-49 earn an average annual income of £38,574 meaning that they need 7.4 times their income to cover the current average UK house price, the lowest income-to-house price ratio of all life stages analysed by House Buyer Bureau.