Looking to buy your first home? Well, the UK’s best cities for first-time buyers have been revealed.
Based on the facts and stats, Sheffield tops the list for the best UK city to purchase your first home. Leeds, Newcastle, Glasgow and Aberdeen made up the rest of the top five.
In a study from Together Money, data was collected on all the key areas relating to purchasing your first home in cities across the UK. Figures such as mortgage as a percent of income, average monthly bill cost, travel pass costs and price per square metre of a home were all taken into consideration when working out where in the UK is the best for first-time buyers.
The North leading the way
It may be a little be colder up north, but it’s certainly the place for first-time buyers with the research revealing that the best five cities to buy your first home are either in the north of England or in Scotland.
Sheffield topped the list for first-time buyer hotspots, with the average mortgage being 23.27 per cent of a homeowner’s income. Monthly travel costs of £53.50 and utility bills of £111.22 also made the Steel City a great place for those looking to buy their first home. Newcastle has been ranked as the UK’s second-best city for first-time buyers, with a mortgage costing around 28 per cent of your annual salary.
Heading north of the border, Aberdeen and Glasgow are proving to be great for first-time buyers. In Glasgow, the average resident puts 38.52 per cent of their monthly salary towards their mortgage, whilst it’s 4 per cent less in Aberdeen at just under 34 per cent.
Building homes in the right places
With more first-time buyers looking to get onto the property market than ever before, the need for new homes in the right places is huge.
At Avant Homes, we have developments in and around four of those top five best cities for first-time buyers – Sheffield, Newcastle, Glasgow and Leeds. We’re committed to offering homebuyers just what they want, and our range offers everyone – from those looking for their first home or a just new home – to find a place perfect for them.