Kingston has the oldest first time buyers in Britain, according to data released this week.

Homeownership is a distant dream for thousands of young adults after it was revealed the average borough resident does not get the keys to their first house until they are 34 years old, according to the Halifax.

The national average was 29, while first time buyers were 25 years old in Selby, Yorkshire.

Fears that Kingston’s estimated 45,000 people aged 20-34 were being priced out of the housing market were heightened by news they pay an average of £258,236, or 5.5 times their salary.

Kingston University student Paul Jones, 21, said: "I think the situation’s becoming more like Europe, when it’s more normal to rent rather than buy outright. I’d love to stay here after graduating but I would be able to afford it."

According to the 2001 census, 71 per cent of homes in Kingston were owner occupied, above the London average of 56 per cent, while 26 per cent were rented.

Chris Dingle, president of Kingston University student union, said: "I think one danger is you end up with young professionals living in the same conditions as when they were students.

"The danger is the borough could lose out on a young, vibrant population that contributes much to the town."