Buying a home for the first time is a big achievement, often borne of years of hard work and careful saving. But trying to buy a home in London often feels impossible, given how expensive homes are in the capital city.
And Rightmove has now released some new data, revealing the 10 cheapest cities for first-time buyers to purchase a property. And average house prices in these cities are nearly five times cheaper than what first-time buyers in London are looking at paying right now.
In London, first-time buyers are purchasing properties costing on average ÂŁ446,000, according to the government’s Land Registry data from January 2024. But in Aberdeen, which has been named the cheapest city for first-time buyers, properties are costing on average just ÂŁ102,601.
READ MORE: First-time buyers facing most expensive properties in 70 years as housing ladder ‘broken’, new report finds
Rightmove have also broken down additional costs first-time buyers might be spending. The average monthly mortgage payment per month in the Scottish city is just ÂŁ406, almost half the average monthly rent in Aberdeen.
All of the cheapest cities named by Rightmove are in the north of the UK. Next on the list is Bradford, where average asking prices for a first-time buyer-type property, which qualifies as two bedrooms or fewer, is ÂŁ107,929.
Sunderland and Carlisle are both included, as well as Preston, Hull, Dundee and Stoke-on-Trent. Durham is the ninth-cheapest city on the list, and slightly more expensive with properties averaging ÂŁ125,957. And Doncaster concludes the top ten, with an average price of ÂŁ128,062.
10 cities with cheapest average asking price for a first-time buyer type property (2 bedrooms and fewer)
1. Aberdeen – ÂŁ102,601
2. Bradford – ÂŁ107,929
3. Sunderland – ÂŁ111,263
4. Carlisle – ÂŁ111, 268
5. Preston – ÂŁ112,273
6. Hull – ÂŁ113,920
7. Dundee – ÂŁ116,191
8. Stoke-on-Trent – ÂŁ117,113
9. Durham – ÂŁ125,957
10. Doncaster – ÂŁ128,062
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