First-time buyers are typically saving an eye-watering £31,000 for a mortgage deposit, according to new figures from Experian.
The credit-scoring website says that this represents an increase of more than £3,000 in the past 12 months, showing the challenges people face when trying to buy their first property.
At the same time, the number of properties for sale has fallen, according to NAEA Property Mark.
Here, Which? looks at why the average first-time buyer deposit might have increased and explains how first-time buyers can get ahead in a slow-moving property market.
Experian claims that the average first-time buyer deposit is currently £30,989 - a 12% increase on January 2018, when the average was £27,768.
The numbers should, however, be treated with caution as they're just based on people who've used Experian's mortgage eligibility tool, which allows potential homebuyers to check how likely they are to be approved for a mortgage.
Percentage-wise, Halifax claims that the average deposit put down by first-time buyers is 16% of the property price, although technically you can get a mortgage with a deposit of as little as 5%.
David Blake, from Which? Mortgage Advisers, says: 'In theory, there's no reason why a first-time buyer would need to save a bigger deposit now than, say, two years ago.
'The main reason for needing a bigger deposit is usually either house price increases or mortgage affordability issues.
'In many cases, lenders have tightened up on how much they lend, and if wages have also remained stable or decreased this could explain why larger deposits are required.
'That said, there are many attractive variable-rate products on the market that allow people to keep their options open, which also appeal to many borrowers.'
Separate research from NAEA Property Mark has found the number of properties available to buy per estate agent was at its lowest level in March for seven years, with just 37 per branch on average, compared to more than 50 in March 2016.
This could be due to the Brexit effect, with many sellers choosing to delay putting their homes on the market until we know whether the UK will leave the EU with a deal or not.
If you're keen to buy a property sooner rather than later and haven't found anything suitable in your area, these tips might help you get a step ahead of the competition.
Register in person in their branches, then call them regularly for updates. Establishing a good relationship with your local agents could mean you're the first person they call when a suitable property hits the market.
Don't restrict yourself to just one estate agent; register with any that are selling the type of home you want to buy in the areas you want to buy in.
In the video below, estate agents explain how you can be the first person they call when a new property is put up for sale.
If you want to buy a home in a particular area but nothing is coming up for sale, try leafleting in your desired streets to let people know you're keen to buy.
You should include your contact details and the type of property you're interested in.
The potential disadvantage is that if the homeowners haven't proactively put their house up for sale themselves, they may be less motivated to sell which could lead to disappointment further down the line if they accept an offer but then have a change of heart.
If you'd like to buy a home but are struggling to save up a big-enough deposit, you could consider the following options: