An entire generation could be priced out of the housing market, with home ownership levels set to slide further out of reach for younger people, a new survey has revealed.

The poll of 2,000 UK adults by online letting agency LetBritain indicates that 39 per cent can't afford to buy a property and are forced into the rental market.

And in London, this figure rockets to 49 per cent.

Nearly two thirds (61 per cent) blamed the Government for not doing enough to support renters, with 64 per cent pessimistic about their prospects over the next five years.

Fareed Nabir, CEO of LetBritain, said: "With more and more people across the UK coming to rely on the private rental sector, the results of the research are concerning.

"Whilst many renters are working hard to enter the property market, they clearly do not feel the government understands the issues faced by tenants."

Interestingly, 27 per cent of tenants said that they have plans to invest in BTL, by purchasing a cheaper property in a different place from where they wish to live.

In London, 42 per cent of those surveyed said they would buy a property in another part of the UK, in order to benefit from another rental income.

Mr Nabir added: "The findings show that Generation Rent is now increasingly looking to buy properties outside of their chosen place of residence so they can still get onto the property ladder without having to sacrifice the location or quality of the property they wish to live in."