Calling all first-time buyers – Zoopla reveals the most affordable hotspots in the UK

If you're looking to buy your first home, these are the areas you should be considering
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  • For many, the prospect of ever affording a home seems unlikely and sometimes even impossible. However a recent report by Zoopla has revealed Britain’s popular locations, deemed most affordable for first-time buyers.

    As a result of property experts have calculated how much it costs to buy your first home in each area.

    The London Borough of Barking and Dagenham is crowned Britain’s most popular location for those looking to buy their first home.

    Followed by Leicester for East Midlands, Bristol for South West and Midlothian as the most attractive option for those in Scotland.

    More info: Time to start pinching those pennies as the average first-time buyer deposit hits a record high

    Zoopla’s most affordable for first-time buyers

    Image credit: Simon Whitmore

    The most popular first-time locations all share one common characteristic – they’re within reach of the UK’s biggest cities, but still relatively affordable.

    Affordability has been calculated by analysing demand from first-time buyers over the past three months. Then ranking locations with the highest percentage of demand submitted from those identifying as first-time buyers.

    Based on the above these are the top most affordable hotspots across Britain – and it turns out you can get quite a lot for your money…

    1. Barking and Dagenham

    affordable cities and towns for first-time buyers

    Image credit: Zoopla, Dagenham 3 bed terraced house, £300,000

    Winning the accolade of most popular location is the borough of  Barking and Dagenham. The most in-demand property for first-time buyers is a three-bed terraced house valued at £300,000.

    Those looking to buy their first home will require a deposit of £45,000 and an income of £56,667 to buy.

    2. Tower Hamlets, London

    In second place is London’s borough of Tower Hamlets. In comparison first-time buyers in this area will need to earn £80,278 and have a deposit of £63,750 for a home valued at £425,000 – for a two-bed flat.

    3. Newham, London

    Third place in the capital is the Borough of Newham. Here first-time buyers are looking at two-bed flats priced at £340,000. A first-time home in Newham will set them back £51,000 for a 15 per cent deposit.

    4. Reading, Berkshire

    affordable cities and towns for first-time buyers

    Image credit: Zoopla, Reading 2 bed flat for sale £240,000

    Heading outside of London, Reading is the most popular location for first-time buyers. In this large town the average home value enquired about is £240,000, again for a two-bed flat. A home of this value requires a £36,000 deposit.

    5. Wolverhampton, West Midlands

    Image credit: Zoopla, Wolverhampton semi-detached house

    This city in central England is a top hotspot for buyers, where you can bag a three-bed semi for £145,000. The deposit required is £21,750 with an income of £27,389.

    6. Thurrock, Essex

    Just outside of London, in 6th place is Thurrock. Here first-time buyers are looking at three-bed terraced house priced at £260,000. The 15 per cent deposit value is £39,000 with a desired income of £49,111.

    7. Greenwich, London

    We’re back in London for the 7th hotspot, this time in trendy Greenwich. Here first-time buyers are looking at two-bed flats for the sum of £340,000, with a deposit of £51,000.

    8. Luton, Bedfordshire

    Image credit: Zoopla, Luton 2 bed terraced house for sale £215,000

    First-time buyers in Luton are looking at two-bed semi detached properties to the somewhat affordable sum of £215,000.

    9. Southwark, London

    Who’d have thought London would appear so many times in the most affordable hotspots?! In again at nine, is the borough of Southwark where first-time buyers are looking at two-bed flats in the region of £435,000.

    10. Crawley, Surrey

    Lastly the number 10 hotspot is Crawly with three-bed terraced houses cost £255,000. Where a deposit costs £38,250 and the desired annual  income for affordability is £48,167.

    Regionally Leicester is the most popular location for first-time buyers in the East Midlands. While the bustling city of Bristol tops the list in the South West. 

    North of the border in Scotland, is the historic county of Midlothian is the most popular destination for those buying their first home. The first-time buyer home costs on average £145,000, with a £26,250 deposit.

    Related: Calling all first time buyers! You can now pay for someone to find your first home for you

    Zoopla also provides the average property value first-time buyers search for in each location and the most popular property type. Additionally they calculate  the typical deposit and average income needed to service an 85 per cent loan-to-value mortgage.  

    For those looking to buy their first home anytime soon, it goes to show the importance of location, location, location.


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