SHARED-OWNERSHIP schemes are becoming an increasingly popular option for first-time buyers as house prices continue to spiral.

Research published by the Royal Institution of Chartered Surveyors (RICS) identified now as the worst time to be a first-time house buyer in 20 years.

The findings showed accessibility to the market was almost 300 per cent worse today than ten years ago and a first-time buyer would now have to save up the equivalent of 74 per cent of joint take-home pay to build up the £29,200 needed for up-front buying costs on a typical home, deposit and stamp duty. This is a substantial rise from the low point of 25.2 per cent required in 1996.

Robin Miles, a manager at Aitchinsons estate agents, said: "It has been the case for quite some time that unless you have a partner or parents to help you out it is extremely hard as a first-time buyer.

"I have worked here for 12 years and it is worse than ever - they are priced out of the market completely and there is a shortage of one and two-bedroom properties."

In the light of a predicted ten per cent rise in house prices over the next two years, aspiring homeowners are turning to shared-ownership schemes to get on the first rung of the property ladder.

Richard Worrall, a director at Thompson Wilson, said there had been a phenomenal' amount of interest in a shared-ownership scheme at Goodearl Court, off Conifer Rise, High Wycombe, which is due to be launched next week.

The development comprises ten one and two-bedroom flats and is on offer to existing council or housing association tenants and key workers. Buyers can purchase 50 per cent of the value of the property and pay rent on the remainder.

Catalyst Communities Housing Association offers a One Stop Shop as a first point of contact for people struggling to buy their first home in High Wycombe and South Bucks. The New Build HomeBuy scheme is open to local authority and housing association tenants, key workers and those in priority need.

Jacqueline Day, marketing manager at Catalyst Housing, said: "Not only are we assisting key workers and first-time buyers, but many other local people are eligible for help too. So if you're looking for an affordable new home in High Wycombe then the One Stop Shop is the best place to start."

Catalyst Housing is currently offering ten two-bedroom apartments at Greengates in Chairborough Road, High Wycombe, to people who live or work in the district. A minimum initial 40 per cent share, on a part-buy part-rent basis, starts from £70,000, plus subsidised rent. Properties have a full market value of between £175,000 and £188,000 and are available from January 2007.

It is also marketing properties at Redwood, which is part of a development of new one and two-bedroom apartments situated close to Desborough Road.

For more information on the homes at Goodearl Court call Thompson Wilson on 01494 474234. For details on properties at Greengates or Redwood visit www.homebuy.co.uk or call Catalyst on 0845 6017729.

RICS South East Director Trevor Hines added: "Unless house-building levels improve in the region, and levels keep pace with population growth and rising income and wealth, people will continue to find it difficult to get on the property ladder. If the housing market is to become more accessible, lenders must continue to offer generous funding levels, and the government should, out of necessity promote a significant increase in the housing stock.

"The government must act to create more social housing and tackle the problem of NIMBYism in the countryside by building affordable housing for key workers.

"The financial pressures of up-front buying costs and rising energy prices will continue to create a have-and-have-not' property society."