First time buyers priced out of the housing market in Redland, Bristol

A recent study reveals the average salary needed to by a house in Bristol is a whopping £45,000 - pricing the majority of first time buyers out of the market.

Figures unveiled by the National Housing Federation (NHF) as part of the Home Truths report show the gap between wages and house prices is massive. The average income of people in Bristol is less than £21,000 - £24,000 shy of the amount they'd need to get a mortgage on an average-priced house. This, combined with the necessity for a 20 per cent deposit means thousands of people are condemned to a life of renting.

As one of those people, I've almost resigned myself to never owning my own place. I'm in my late 20s and have worked as a journalist constantly for the past 6-7 years. I've managed to save almost £10,000 towards a house deposit, on a below average salary, while paying hundreds of pounds a month to a private landlord to cover their mortgage but still I'm a few years off having enough for a deposit and a mortgage.

When you consider these figures relate to the South West as a whole, it looks even worse for house-seekers in Redland, where house prices are among the highest in Bristol. I've lived in Redland for years yet I'm not even humouring the idea that I could afford to buy a house here, no, I'm looking to neighbouring Horfield for help - where there are some houses available for less than £150,000. Some being the operative word. If you take £21,000 as the average Redland wage and assume someone has a deposit of £20,000 (though how long it would take to save that while paying upwards of £500 a month in rent is beyond me) then you'd be looking at obtaining a mortgage for a property worth around £120,000, which would not even buy you a studio flat in Redland. Something has to give.

I'm certainly not alone here in Redland. There are hundreds of tenants living in rented properties in the area who would love to get on the housing ladder but just can't. James Allen, 35, has been working as a nurse for the past five years and has been saving for a house deposit for a couple of years but he reckons he's at least two years off applying for a mortgage. He said: "I used to look at the houses for sale but I've stopped now. So much can change in a year and I won't have enough deposit for at least a year or two. It's really depressing knowing that your monthly rent is paying someone else's mortgage but there's nothing we can do about it."

But according to the report, Bristol is far from the worst affected area - with some rural areas in the South West where house prices are up to 15 x the average salary. The government's FirstBuy initiative, which helps first time buyers get their foot on the ladder by subsidising their deposit with what amounts to a 10 per cent five year interest free loan on certain new properties, has barely scratched the surface. And the 13,000 odd new homes built in the region just aren't cutting it.

The NHF is calling on the government to commit to building more new homes and look at improving the planning system so it works heavily in favour of developers committed to building more affordable housing. Jenny Allen, South West lead manager for NHF said: "This year's Home Truths report shows that – despite a deep recession – house prices in the region remain out of reach for thousands of households in the region. Lack of supply is at the root of the problem. Ministers need to act now to implement a range of measures to turn the tide on the current housing crisis,  ensuring that homes continue to be built at scale in the South West, that affordable housing options remain, and that housing is properly regulated across all sectors."

What do you think? Should the government be doing more to help people buy a house? Or perhaps you think there should be restrictions on career landlords who buy up a load of properties to rent out to people who can't afford their own home? Maybe you think people just need to get better at saving? Or be prepared to move to somewhere cheaper and leave the highly priced housing for people in high paid jobs who can afford it? We'd love to hear from you...