19 July 2012

The amount of places in the UK that first-time buyers can afford has risen to the highest level for over 10 years.

The average amount a first-time buyer pays for their new home is currently feasible, based on the average wage, in 54% of towns and cities. This figure has risen by 14% in comparison with the same time last year. The average deposit paid by a first-time buyer has also decreased from last year.

Halifax has listed the North East and the North West as the UK’s two most affordable regions. London however currently has no areas that are affordable for first-time buyers.

Halifax also noted that first-time buyer numbers increased to approximately 114,000 in the first two quarters of 2012 which is up by more than a third when compared with the same time in 2011.

@MovewithUs

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