Despite the credit crunch, the town is still one of the few places where a property can be snapped up for less than £100,000.

Mortgage advisor Wayne Brewer, who works at leading Fleetwood estate agent Harris and Co, said the problem for first-time buyers is the incredible rates of interest they have to pay on mortgages.

“Lenders have only so much money to lend at the moment and they are playing safe by keeping rates down for second time buyers who have large deposits, and putting rates up for those who want 95 per cent mortgages,” said Wayne.

“That means first-time buyers are facing seven per cent mortgages if they only have small deposits.

“They are worried about taking mortgages.

“There’s a lot of scaremongering and they are concerned about price falls in the future, which is putting them off borrowing.”

Many first-time buyers are now playing safe by saving up bigger deposits and waiting for mortgage rates to fall before stepping on the property ladder.

Fortunately, Fleetwood has been locked in a bubble of its own during the property boom.

Whilst property prices have increased, they haven’t done so on the large scale that other towns have seen.

That means that while other parts of the country could face a rapid decline in prices, Fleetwood will remain in a far more stable position.