Three in five renters cannot afford to buy Despite the challenges, 96pc of current renters still dream of owning an hour. One in six of those expecting to buy their first home this year were 40 years old or over. Miles Shipside, Rightmove director, said: "Even though some agents are reporting an increase in those buying and escaping the rental trap, the growing number of new households and former home owners returned to the rental sector keeps producing new tenants. In spite of buying looking increasingly attractive as the costs of renting continue to rise, saving a deposit continues to get harder. Recent research from Halifax found that first-time buyer numbers soared to their highest levels in the first half of this year since 2007. However, a growing proportion of these buyers found themselves having to pay stamp duty on top of raising funds for a deposit as house prices rose. More than half of this year's first-time buyers bought homes which were over the £125,000 stamp duty threshold, at which a rate of 1% kicks in, up from 44% a year ago.