Being a first-time buyer isn’t easy. ,
Average salaries have not increased at the same rate as property prices. So, buyers need a larger deposit to make it possible.
In this situation, it is common for potential first-time homeowners not only to look for affordable types of property. Many also look for affordable places to live in, too.
Read on for our list of the best places to live for first-time buyers in the UK.
1. Bradford, West Yorkshire, England
Bradford in West Yorkshire, England, is the most affordable town for first-time buyers.
The statistics state that the average price for a first time buyer-type property (i.e. a place with two bedrooms or fewer) is £104,643. This is the most affordable in the UK.
The average monthly mortgage payment in Bradford is £521, with this figure increasing to £623 per month for rental payments.
Bradford has a number of pros and cons. It is an ideal town for first time buyers who need to commute into the city of Leeds, which is less than 30 minutes away by both car and train.
There are also excellent employment opportunities in Bradford itself, and being positioned in the centre of Northern England, people living there are less than a two hour drive from Manchester, Sheffield and York, too.
2. Carlisle, Cumbria, England
Much further north than Bradford, and very close to the Scottish border, is Carlisle.
The average asking price for a first time buyer-type property in Carlisle is £104,784.
This is only £141 more expensive than the average price in Bradford, meaning that Carlisle comes in at a very close second place.
The average monthly mortgage payment in the town is £522, and the average rental payment is £556 per month.
Carlisle is a city which has a beautiful cathedral, as well as a historic castle.
The town is not particularly close to any other major UK cities, but for first time buyers who are keen to start a family (for example, a couple moving in together for the first time). It is be an ideal, affordable place to start a peaceful life.
3. Aberdeen, Aberdeenshire, Scotland
Aberdeen is on the northeast coast of Scotland.
Rightmove found that the average asking price for a property with two bedrooms or less is £106,088. This is the cheapest of all the major towns in Scotland and is the third most affordable in the UK.
Aberdeen is great place to invest in property. It’s a vibrant city in Scotland which makes it an attractive prospect for first time buyers who want to move out from their parents’ house into a buzzing city centre.
It has beautiful grey stone buildings and a huge array of castles, museums and galleries for locals to enjoy.
The average monthly mortgage payment in Aberdeen is £528 and the average rental payment is £718 per month in Aberdeen.
4. Hull, East Riding of Yorkshire, England
Hill is located in the East Riding of Yorkshire.
The average asking price for a property with two bedrooms or less in Hull is £106,939, according to Rightmove. The average monthly mortgage payment is £532 and the average rental payment per month is £595.
Hull is located on the river Humber, which can offer some scenic walks.
The city is also home to a number of interesting museums, along with Wilberforce House, which was the birthplace of William Wilberforce and documents the abolition of the slave trade.
For first time buyers in England who already live in the North or North-east of England, and are keen to stay there, Hull could be an excellent, affordable option.
5. Dundee, Angus, Scotland
Slightly further south than Aberdeen is the county of Angus – at the heart of which is Dundee, an extremely affordable town in Scotland.
Dundee has a lot to offer its residents in terms of food and culture, and it also offers beautiful views over the Firth of Tay estuary. It is these attractive elements which make it the fourth most populous city in Scotland.
The average asking price for a property with two bedrooms or less in Dundee, Scotland, is £111,415.
The average monthly mortgage payment in the town is £555 and the average monthly rental payment is £731.
These figures make it an extremely affordable option for first time buyers looking to purchase a property on the east coast of Scotland.
