One in four first time buyers in their early twenties claim that not being able to afford their first home is their biggest worry about what life will be like in ten years time, according to a new report from Birmingham Midshires 'Saving Britain 2002' Campaign.

Following news last week that the average house price in the UK has hit £102,851 the findings reveal many young people now feel excluded from the housing market and indicate the average age of first time buyers (currently 34 years old) could rise further in the near future. Young Britons now say exclusion from the property market is an even bigger concern to their future than the state of their health and providing for their family.

In response to the findings, Birmingham Midshires is publishing a free top tips sheet to first time buyers, describing the key issues to think about when planning to buy a home for the first time.

The latest Birmingham Midshires report is based on findings from it's 'Saving Britain 2002' Campaign, launched earlier this year. The campaign aims to raise awareness of the financial issues facing consumers and boost public confidence in savings and investments. Birmingham Midshires asked a UK representative sample of 1,000 people a series of questions about their expectations for life in the future.

Young, free and worried? Contrary to the belief that young people are carefree and frivolous, seven in ten young people aged 16-24 years old express serious concerns about their lives in the future. Nationally, six in ten people claim to have concerns about their lifestyle in the future. Labour market concerns: The main concern for young people was the possibility of being out of work in the future.

One in three people expressed a rather gloomy view of the UK labour market, perhaps following recent job cut announcements. Fears about the job market were most acute in regional areas with a past history of having volatile local economies - West Midlands, Wales and North East.

Getting on the property ladder: Following the dramatic rise of house prices in recent years, one in four of today's young people worry about not being able to afford their first home in ten years time. The findings highlight the extent to which many first time buyers feel excluded from the housing market by recent price rises and suggest many young people across the UK do not now expect to buy a first home until their early thirties.

Family Values: Almost one in five people aged 16-24 years old claimed their biggest worry was providing for their family in the future, shattering the view that young people often neglect family values. Similarly, one in five people over 45 years old claim their main concern is not having enough money to provide for their family. The importance of financial planning to support the family remains a huge strain for all age groups until people reach 55 years old, where only 4 per cent felt it was a concern.

Working Long Hours: One in six young Britons worry about working increasingly long hours at a time when recent reports have highlighted that, on average, Britons work the most hours each week across Europe (43.6hrs), compared to France (35hrs) and Spain (37.8hrs).

Parental support: As fears of a retirement crisis mount, one in ten young people now worry about supporting their parents in old age. The news follows findings last month from Birmingham Midshires that most people (22%) start saving for retirement outside a pension at 45 years old, supporting the view that many young Britons may be required to provide financial support to their parents in the future.

Healthcare: Looking after your health was a concern for just 6 per cent of young people. Healthcare only becomes a serious issue for people in their mid forties (21%), suggesting that many people over the age of 45 will be eager to see results from the Chancellor's NHS pledge, the rest of us are the putting the thought to the back of my mind.

Working into my seventies: The Pensions Policy Institute recently reported that a 25 year old today may have to work until they are 72 to match the retirement fund of a current final salary pension scheme employee aged 65, the findings show that this does not even register as a concern for people in their twenties.

Tim Hague, Head of Savings and Investment Marketing at Birmingham Midshires said; "With the substantial house price rises seen recently, young people are expressing serious concerns about getting onto the property ladder. With the average age of first time buyers increasing, the figures indicates that the age of a first time buyer may rise higher still in certain areas. As salaries have not kept pace with house price inflation, the current house price trend may also be causing huge concerns for our public service workers."

"Saving Britain 2002 is enabling us to gain a better understanding of the needs of our customers and their concerns for the future, so that we can offer the right solutions and support services they require. We hope to design financial products and offer the right advice to relieve these types of concerns and certainly encourage people to put more aside for the future."