Contact Us Icon
Call us free today
0800 774 0004

Light at the End of the Tunnel for First Time Buyers?

FREE cash offer within minutes
Light at the End of the Tunnel for First Time Buyers?
  • Free cash offer within minutes, no legal fees, any location.

Whilst the media headlines are dominated by the doom and gloom of London’s affordability crisis, things are looking up for the rest of the mortgage market in the UK.

For first-time buyer news, 54% of the country is now more affordable to live in than before the credit crunch in 2007.

The gap between earnings and house prices have fallen in cities such as Birmingham, Glasgow and Leeds. Research by Yorkshire Building Society has shown the UK has a plethora of options for those looking to buy a property in the North of England.

Many places such as Edinburgh, Peterborough and Birmingham are becoming much more affordable than they were in the days before the credit crunch, with the gap between earnings and house prices one-third of the average for cities such as London.

first time buyers kitchen we buy any home

Newcastle has also been revealed to be 26% more affordable than a decade ago but for those looking to secure a real bargain, data revealed the property hotspots to be Inverclyde, North Ayrshire, West Dumbartonshire, Middlesbrough, Sunderland, Hartlepool and Burnley.

Whilst experts have warned that it’s not all good news up north, with Manchester residents reportedly suffering from a lack of wage increase to match the increasing house prices and having to opt for shared ownership, there are plenty of affordable locations to choose from as a first-time buyer.

living room first time buyer we buy any home

It’s also not all bad news down south. Although some locations such as Hertfordshire are suffering from an ever-increasing house price to wage gap – spots such as Lewes and Exeter have also become increasingly affordable over the last 10 years.

Perhaps then it’s no wonder that the number of people departing London has reached an all-time high with a net outward migration of 93,300 people in June. That’s an 80% increase on the previous five years.

Do we predict a mass exodus from the capital? Time will tell!

If you’re looking to relocate to a more affordable area and climb the property ladder but are struggling to sell your house fast, we can help. Simply fill in our form below and one of our expert team will be in touch.

Posts Related To Sell House Fast

View all articles
Can I Put Offers on Multiple Houses?
Your Guide to Downsizing to be Mortgage Free
What are the Pros and Cons of Moving to the Countryside?
Should I Accept a Gazumping Offer?
Do You Pay Council Tax on an Empty Property?
What Does Under Offer Mean?
What are the Different Types of House Surveys Available?
How Can I Find Out Who Owns a Property or Land?
Will House Prices Drop in 2023?
Free cash offer within minutes, no legal fees, any location.

Get a free cash offer today
Enter your details below

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
--> crossmenu