According to the Norwich Union survey, first-time buyers spend on average of �5,919 on stamp duty, legal fees, removal vans and basic furnishings.

All this adds up to a UK-wide bill of nearly �3bn for first-time buyers.

Nine out of ten new buyers surveyed by the Norwich Union said they were surprised at the costs that moving home entailed, and four out of five did not budget for the extra cost.

Despite starting out with a strict budget, 94% of the first-time buyers surveyed admitted they had overspent.

First time hassle

Nearly half the people endeavouring to clamber on to the property ladder said they had to lower their expectations once they started looking for properties and realised how much they cost.

And unrealistic expectations were the main reason why many estate agents said they found first-time buyers both frustrating and time-consuming.