Average asking prices for typical first-time buyer homes in some parts of Britain have jumped by nearly a fifth over the past year, according to analysis by property website Rightmove.
Northern Hotspots Lead Price Growth
Rightmove, which looked across Britain but excluded London from the analysis, said Bridlington in Yorkshire and St Helens in Merseyside led the way as first-time buyer price hotspots, with average asking prices having increased by 18 percent annually.
In Scotland, asking prices for first-time buyer homes in Falkirk have increased by 17 percent annually and in Hartlepool in the north-east of England, they have risen by 12 percent, according to the analysis.
First-time buyer homes were defined in the research as those with two bedrooms at the most, including houses and flats. Rightmove said the fastest-growing areas for asking prices on its list had average prices below 170,000 pounds, highlighting continued demand for more affordable homes.
Southern Markets Cool
In contrast, several higher-priced southern markets, including Brighton and Southampton, are seeing average first-time buyer prices ease compared with last year, it said. Rightmove said that the average asking price across the research for a typical first-time buyer home is 228,048 pounds, down by 0.7 percent annually.
It also found that St Albans in Hertfordshire is the most expensive area to buy a typical first-time buyer home, at 401,352 pounds. The least expensive is Middlesbrough, Rightmove said. A first-time buyer could typically buy four homes in Middlesbrough for the price of one in St Albans. The average asking price for a first-time buyer home in Middlesbrough is 90,929 pounds.
Expert Insights
Colleen Babcock, a property expert at Rightmove, said: "Affordability continues to shape where first-time buyers are looking, and we’re seeing the strongest price growth in areas where homes remain within reach for more people. Lower-cost locations are still seeing strong interest, with competition for homes helping to hold prices up. In more expensive markets, tenants are taking a bit more time and thinking more carefully about what they can afford, which is keeping growth relatively flat."
As well as rising asking prices in some areas, first-time buyers will have also faced the hurdle of jumps in mortgage rates, amid the conflict in the Middle East and wider economic uncertainty. But many lenders have been cutting mortgage rates in recent weeks.
Methodology
Rightmove analysed first-time buyer properties coming to market in May where there were at least 20 new listings and at least 20 sales agreed. This analysis excluded London due to its significantly higher asking-price levels, which Rightmove said can distort comparisons with the rest of Britain.
Nathan Emerson, chief executive of property professionals’ body Propertymark, said: "These figures show that affordability continues to drive first-time buyer activity, with the strongest price growth concentrated in areas where homeownership remains within reach. While demand remains strong in many northern English and Scottish markets, buyers still face challenges from higher mortgage costs, ongoing living expenses and saving for a deposit."
Charlotte Harrison, chief executive of homes at Skipton Building Society, said: "The strong house price growth reflects the continued strength of demand in comparatively lower-cost northern markets, where many first-time buyers are prioritising flexibility, value and space. Our latest Skipton Group home affordability index shows average first‑time buyer deposits in the North of England equate to around half the level of London, and buyers in the North are also often able to secure larger homes than they require."
Top 10 Hotspots for First-Time Buyer Price Growth
Here are the top 10 areas with the fastest annual percentage increases in asking prices for a typical first-time buyer home, according to Rightmove. The figures show the average asking price followed by the annual increase:
- 1. Bridlington, Yorkshire and the Humber, 167,321 pounds, 18 percent
- 1. St Helens, North West, 133,106 pounds, 18 percent
- 3. Falkirk, Stirlingshire, Scotland, 118,311 pounds, 17 percent
- 4. Hartlepool, North East, 104,276 pounds, 12 percent
- 4. Dewsbury, Yorkshire and the Humber, 130,133 pounds, 12 percent
- 6. Greenock, Scotland, 93,998 pounds, 11 percent
- 6. Inverness, Scotland, 167,009 pounds, 11 percent
- 8. Great Yarmouth, East of England, 149,315 pounds, 9 percent
- 8. Blackburn, North West, 116,735 pounds, 9 percent
- 10. Airdrie, Scotland, 106,472 pounds, 8 percent
Top 10 Coldspots for First-Time Buyer Price Falls
And here are the 10 coldspots with the biggest asking price falls for first-time buyer homes, according to Rightmove:
- 1. Exeter, South West, 201,248 pounds, minus 20 percent
- 2. Derby, East Midlands, 143,043 pounds, minus 10 percent
- 3. Goring-by-Sea, Worthing, South East, 263,906 pounds, minus 9 percent
- 4. Doncaster, Yorkshire and the Humber, 109,477 pounds, minus 8 percent
- 4. Torquay, South West, 172,835 pounds, minus 8 percent
- 6. Motherwell, Scotland, 108,458 pounds, minus 7 percent
- 6. Southampton, South East, 187,443 pounds, minus 7 percent
- 6. Parkstone, Poole, South West, 248,963 pounds, minus 7 percent
- 9. Hove, South East, 326,783 pounds, minus 5 percent
- 9. Poole, Dorset, South West, 244,175 pounds, minus 5 percent
Most Expensive First-Time Buyer Hotspots Excluding London
Here are the most expensive first-time buyer hotspots for average asking prices, excluding London, according to Rightmove and the annual change:
- 1. St Albans, East of England, 401,352 pounds, 2 percent
- 2. Epsom, South East, 374,376 pounds, 0 percent
- 3. Oxford, South East, 367,503 pounds, 5 percent
- 4. Clifton, Bristol, South West, 365,338 pounds, minus 1 percent
- 5. Cambridge, East of England, 351,126 pounds, 1 percent
- 6. Brentwood, East of England, 347,844 pounds, 7 percent
- 7. Hertford, East of England, 336,690 pounds, 1 percent
- 8. Bath, South West, 335,552 pounds, minus 4 percent
- 9. Wokingham, South East, 332,806 pounds, minus 1 percent
- 10. Hove, South East, 326,783 pounds, minus 5 percent
Least Expensive First-Time Buyer Hotspots Excluding London
And here are the least expensive first-time buyer hotspots outside London, according to Rightmove:
- 1. Middlesbrough, North East, 90,929 pounds, minus 1 percent
- 2. Grimsby, Yorkshire and the Humber, 92,031 pounds, 2 percent
- 3. Kilmarnock, Scotland, 92,380 pounds, 4 percent
- 4. Greenock, Scotland, 93,998 pounds, 11 percent
- 5. Paisley, Scotland, 95,430 pounds, minus 2 percent
- 6. Irvine, Scotland, 96,768 pounds, 6 percent
- 7. Aberdeen, Scotland, 97,002 pounds, 2 percent
- 8. Stockton-on-Tees, North East, 97,680 pounds, minus 2 percent
- 9. Birkenhead, Wirral, North West, 100,179 pounds, 2 percent
- 10. Burnley, North West, 100,734 pounds, 0 percent
