The UK’s best locations for First Time Buyers revealed
In the competitive and highly buoyant housing market, many first time buyers are currently struggling to get on the housing ladder.
Purplebricks conducted research* with potential first time buyers across the UK and found that the average first time buyer’s budget is currently £189,273* (meaning most first time buyers are searching for properties around £200,000).
Purplebricks research** also found that almost 40% of people are now considering moving up to 60 miles away from their place of work due to being less constrained by the commute. With such variation in the numbers of available properties around the country, it can clearly pay to look further afield when prospective buyers are searching for their first home.
Taking the average first time buyer’s budget and combining it with the increased willingness to look further afield, Purplebricks has created a heatmap of all its properties at this level and below - letting first time buyers see at a glance where the richest pickings can be found across the country:
See the heatmap here: https://page.purplebricks.co.uk/first-time-buyers
Based on this heatmap and the local knowledge of its experts, Purplebricks has revealed the best postcodes in the UK for first time buyers as:
- Aberdeen City Centre, Torry (AB11)
- Birchwood, Lincoln (LN6)
- Long Eaton, Erewash (NG10)
- Ashton on Ribble, Preston (PR2)
- Cobridge, Staffordshire (ST1)
Deborah Mooney, Purplebricks Local Property Expert for Aberdeen city centre said, “AB11 is great for first time buyers: Kincorth in particular has many houses available around the £120,000 - £150,000 price bracket and is very close to all the city centre amenities. Cove (AB12) is also attracting a lot of first time buyers and is a fantastic area - there is a multitude of two and three bed semi-detached properties offering people lots of choice. It has great schools, a wealth of local amenities and is just a 10 minute drive to the city.”
David Beagley, Purplebricks Local Property Expert for Lincoln said, “The LN6 postcode covers the North Hykeham, South Hykeham and Birchwood areas as well as villages further outside of Lincoln. Hykeham has a mixture of older properties and also some more modern estates, which are extremely appealing to first time buyers. It is also closer to the A46 bypass which is convenient for commuters heading down to Newark with its mainline service to London Kings Cross. Witham St Hughs is an attractive location for those looking to purchase their first home, as it contains affordable properties within a modern village estate complete with its own school and shops. The area offers a mixture of benefits including access to both city and village life.”
Stacey Reynolds, Purplebricks Local Property Expert for Erewash said, “The Long Eaton NG10 postcode is a great option for first time buyers as it offers value for money compared to Nottingham city centre property prices, and has a good range of houses, including plenty of two to three bed modern townhouses. The area itself has a lot to offer; there are good sports facilities including West Park and Cliffords gym and a number of large supermarkets. In terms of transport links, East Midlands airport is only 8 miles away, and there are excellent connections via major roads including the M1 and direct trains to London. Long Eaton is in the middle of two big cities - Nottingham and Derby - which offer an amazing selection of shops, bars and restaurants, as well as great universities.”
Ray of hope for Londoners
Despite rising property prices, there are still opportunities for first time buyers in Greater London, with suitable properties on the market for the average first time buyer budget.
Romford has the highest number of properties that are likely to fit the bill for those looking for their first home. Croydon, Enfield, Bromley and Harrow also have suitable properties available.
Susan Gregory, Purplebricks Divisional Sales Director said: “We’ve seen a huge surge in first time buyers seeking to capitalise on the opportunities presented by the new mortgage guarantee scheme. Across the country there is a mixed picture of properties available, but there are some areas particularly well-placed to accommodate the needs of first time buyers. If buyers are prepared to widen their search there are some fantastic opportunities to be found and homes waiting to be snapped up.”
NOTES TO EDITOR:
* Number of Purplebricks properties per postcode on the market for £200,000 or less as of 29th April, 2021 - data provided by TwentyCI
** Research carried out by Prospectus Global of current UK First Time Buyers between the 31st March - 7th April 2021
***Research carried out by OnePoll of 2,000 UK homebuyers between 16 November - 18 November 2020.