The number of first-time buyers getting onto the property ladder has fallen by a fifth since March, new figures have claimed.

Research conducted by price comparison website moneysupermarket.com revealed that there had been a 20 per cent drop in buyers in six months, with the firm indicating that factors such as rising house prices, repeated interest rises and a lack of properties on the market were to blame for the decline.

Louise Cuming, head of mortgages at moneysupermarket.com, said: "It''s not surprising some potential first-time buyers are getting cold feet and steering clear of home ownership."

Of those who have managed to purchase a property, more opted for fixed-rate mortgages over the past six months, with the 43 per cent of borrowers tied to one in September compared to 39 per cent in March.

Last week, figures released by the Council of Mortgages also revealed that affordability had continued to worsen for first-time buyers and highlighted an increase in the number of people with fixed-rate mortgages since last year.