The following information has been sourced from an article in The Daily Mail, for more information visit: https://www.dailymail.co.uk/property/article-12614793/Top-10-coming-areas-time-buyers-according-Halifax-Hull-Ipswich-Middlesbrough-making-cut.html

 

While property prices have fallen in recent months, high prices in many hotspot locations mean three in five first-time buyers are prepared to move to a different part of the country in order to be able to buy a property, Halifax said. 

Around 40 per cent of prospective first-time buyers aged between 18 and 34 are looking to buy in up-and-coming hubs, with many forced to look at places further away from family, friends or work.

Average first-time buyer property prices have surged from £148,474 to £288,030 in a decade with the average deposit put down by first-time buyers being £54,156. 

Telford and Wrekin have come in at number eight on Halifax's Up and Coming First Time Buyer Locations with average first time buyer prices being 10% lower than the regional average and 25% lower than the typical £288,030 price tag paid by those joining the property ladder across Britain.

What are first-time buyers looking for?

Over half of first-time buyers told Halifax that the price of a property was one of their top priorities when searching for a home. 

Being close to family and friends and taking note of local crime rates in the area also featured high up in the list of considerations, as did whether or not an area has a strong community feel and decent transport links are available. 

Potential places to work, green spaces and proximity to a city also made it into the top 10 things being considered by first-time buyers. 

And two in five prospective first-time buyers surveyed by Halifax said the property's location was more important than the property itself. 

Nearly half said they were willing to buy a smaller home than they originally anticipated.  

Kim Kinnaird, mortgages director at Halifax, said: 'Despite fluctuating house prices, the desire to buy a first home isn't going away, with almost nine in ten young people keen to get on the property ladder. 

Ms Kinnaird said there was 'an appetite' among first-time buyers to consider more affordable locations in up-and-coming areas. 

She added: 'These are based on relatively low average house prices, alongside other positives such as access to green space, easy commutes and safe neighbourhoods.'

 

Telford provides a range of elements that first time buyers are searching for, including community feel, transport connections, supermarkets, schools, job prospects and green spaces. To find out more, visit our area guide: https://www.dbroberts.co.uk/about/area-guides/telford/

 

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