This subject is pretty close to home, and has been for almost 20 years now. The answer is it isn't easy - in our parents day the idea was to buy something cheap, fix it up and then climb up the ladder on the created equity; the problem is that the costs of fixing up (builders etc) and the costs of moving (stamp duty, plus hidden costs) make this approach prohibitively expensive now. First timers have to be more ingeneous these days; yes, take on more debt (not more than you can afford), but also consider buying with friends/relatives, borrowing/subs from parents, moving further out on the train line, taking on a 'project' etc.Lot's of people say the market can't carry on increasing for ever, and it is currently slowing down, but the long term trend is definately up - demand outstrips supply - so my conclusion, sadly, is that it will only really get harder.