Homes are becoming increasingly unaffordable for struggling prospective buyers, according to a recent report from the Resolution Foundation.

Emily Samuel, letting agency manager for serenliving, Newport, said: "Many cities in England have seen the sharpest falls in home ownership, with some experiencing double digit falls to levels last seen in 1986, including -13.5 per cent in greater London.

"While levels in Wales have also fallen, by -5.1 per cent, the outlook is more positive given that the rate is slower than the UK average of -6.8 per cent."

Stephen Clarke, policy analyst at the Resolution Foundation, said: “These drops are more than a simple source of frustration for the millions of people who aspire to own their home. The shift to renting privately can reduce current living standards and future wealth, with implications for individuals and the state.”

Emily Samuel said: "While the figures show Wales isn’t struggling as much as other areas, we do still need more housing stock to meet the increasing demand from renters. Rightmove recently reported that the total number of letting instructions in 2015 was 7 per cent lower than 2013.

"That is more than 100,000 fewer instructions, however the number of enquiries a month over the same period was up 38 per cent. At serenliving we’ve noticed a higher than normal demand for the rental properties we advertise and manage on behalf of landlords.

"The majority of our landlords are individuals, renting out just a few properties while managing careers. Landlords need support from the government to do more to encourage private investment in the buy-to-let sector rather than forcing landlords out of the market with unattractive tax and planning regulations.

"Landlords are going to have some difficult decisions to make over the next year and beyond with a market full of new legislation, especially here in Wales with licensing and registration underway, the Renting Homes (Wales) Act and changes in tax."

In her first speech as Prime Minister, Theresa May referred to the 'injustice' in the fact that 'if you're young, you'll find it harder than ever before to own your own home'.

Emily said: "This is encouraging, but unless there is a change to mortgages and deposit requirements then more people will elect the easier route of renting rather than investing and getting on the property ladder."

Serenliving is part of a wider housing organisation, the Pobl group, whose focus is fundamentally to build and provide more homes in Wales and aims to build 3,000 homes over the next five years to help address the housing need.