Between 1999 and 2019, Land Registry data shows the average UK house price rose from £75,995 to £226,234, or 198%.
The industry group UK Finance estimates the average age of first-time buyers to be around 30 years old.
The report recommended that 340,000 new homes be built a year to not only cope with current demand but to tackle the backlog, too.
Yet in 2017/18, England housing stock increased by just 2%, or 220,000 homes, government data shows. That is still well short of what is needed. The housing shortage deepens with each passing year.
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