According to the latest industry research, Barking and Dagenham is the most popular area in London for first-time buyers.
First-time buyers are currently the largest buyer group in the housing market, accounting for close to two in every five sales.
The research is based on the concentration of prospective purchasers who identified as first-time buyers and clicked for more information from an estate agent on a particular property.
It was carried out over three months between October and January and showed that Barking and Dagenham is the most popular area in London for those hoping to take their first step on the housing ladder.
It also found that on average, first-time buyers in Barking and Dagenham focused their enquiries on three-bedroom properties priced at around £300,000.
Experts believe that the low mortgage rates and increased availability of higher loan-to-value mortgages are leading more first time buyers onto the market, where they are seeking out the areas which provide the most value for money in terms of accessibility, property type and size.
In the South East of England, Reading was the most popular location for first-time buyers, with Bristol being the most popular from the South West. Wolverhampton and Leicester were the two most popular areas for the Midlands, and in the North of England properties in Bradford, Newcastle-Upon-Tyne and Oldham were in demand.
Below is a list of the first-time buyer hotspots in each nation and region, according to the research with the average price of the property first-time buyers inquire about, and the most popular property type:
- East Midlands, Leicester, £175,000, three-bedroom semi-detached
- East of England, Thurrock, £260,000, three-bedroom terraced
- London, Barking and Dagenham, £300,000, three-bedroom terraced
- North East England, Newcastle-upon-Tyne, £120,000, two-bedroom flat
- North West England, Oldham, £120,000, two-bedroom terraced
- Scotland, Midlothian, £145,000, two-bedroom flat
- South East England, Reading, £240,000, two-bedroom flat
- South West England, Bristol, £225,000, two-bedroom flat
- Wales, City of Newport, £140,000, three-bedroom terraced
- West Midlands, Wolverhampton, £145,000, three-bedroom semi-detached
- Yorkshire and the Humber, Bradford, £110,000, three bedroom semi-detached
