Luton comes out on top with a typical purchase price of £250,000, according to Zoopla
The top 20 hotspots for first-time buyers in England, Scotland and Wales have been revealed.
According to data from Zoopla, Luton in Bedfordshire comes out on top with a typical purchase price of £250,000.
First-time buyers looking to purchase in Luton require a deposit of £37,500 (15%) on average, and an average household income of £47,000.
The most popular property type for first-time buyers in Luton is a three bed terraced house.
Regionally, the East of England is home to three further first-time buyer hotspots that feature in the top 20.
Harlow ranks in fifth place, with an average first-time buyer house price of £275,000, requiring a deposit of £41,250.
Thurrock, which is part of the London commuter belt, is in 11th place while Basildon is in 13th place and currently has a three bed terraced house on sale for the typical first-time buyer house price for the area of £270,000.
The West Midlands is a region proving popular with first-time buyers, with four locations featuring in the top 20 list.
Wolverhampton ranks in second place overall, with an average first-time buyer house price of £145,000.
To purchase a house at this price, such as a two bed semi detached house currently for sale, first-time buyers would need a deposit of £21,750 and a salary of £27,000.
All within a 30 minute drive to Birmingham, Sandwell (eighth place), Coventry (15th place) and South Staffordshire (18th place) also feature in the top 20.
Coventry has the highest entry level house price of the three at £170,000, followed by Sandwell (£160,000) and South Staffordshire (£150,000).
Locations in the capital occupy half of the top 20 list.
Barking and Dagenham ranks as the third most popular place nationally for first-time buyers, with the lowest entry-level house price of £325,000.
Potential buyers hoping to purchase their first home in this area are likely to need a deposit of £48,750 and a household income of £61,000, substantially higher than the requirements in other parts of the country.
By contrast, Islington is the most expensive first time buyer hotspot in London, requiring a deposit of £78,750 and income of £99,000 to afford a typical house price of £525,000.
Gráinne Gilmore, head of research at Zoopla, said: Activity levels in the housing market have been building across the country in recent months following sharp increases in buyer demand. First-time buyers remain one of the largest cohorts of purchasers across the country, and our data shows that they remain very active within the capital.
Gilmore said, there is noticeable activity across the wider commuter zones into the East of England too, perhaps reflecting different commuting patterns for office-based workers.
This article is for information purposes only.
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