According to Aldermore’s First-Time Buyer Appeal Index, which analysed 50 cities in the UK, this is the third year in a row that Glasgow has been ranked as the best city for first-time buyers.

The report said that it had a strong population of 25 to 35-year-olds and 64% of sales came from first-time buyers.

The average selling price is £155,562, a “significant number of amenities” and job opportunities, but a downside it longer than average commute times.

Rounding out the top 10 was Swansea, Manchester, Liverpool, Newcastle, Edinburgh, Derby and Leeds.

The index uses 10 indicators across two key pillars to assess first-time buyer desirability. The property pillar examines affordability, house price growth, the number of first-time buyers already buying locally and the size of the average first-time buyer deposit relative to local incomes.

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The lifestyle pillar examines other factors likely to influence first-time buyers such as commute times, local amenities and the percentage of young people living locally.

Basildon, Maidstone and Southend came in 50^th, 49^th and 48^th positions with “high property prices, low house growth potential and a lack of local affordability” barriers for first-time buyers.

 

Coventry and Portsmouth climb first-time buyer list and Wigan best for investment

The report continued that Coventry and Portsmouth climbed 16 and 14 places respectively to 13^th and 11^th positions.

Portsmouth scored highly on the lifestyle side, with first-time buyers earning some of the highest average salaries of £37,778 and having good local amenities.

First-time buyers made up over half of sales, but the purchase price is slightly higher than other cities at £234,629.

In Coventry, “reasonable purchase prices and steady house price growth”, along with an average deposit of £39,518 made it “more attainable” for first-time buyers.

Wigan, which took 20^th position, was the strongest city for future investment opportunities with an average annual increase in property values of 7% projected.

The city has average property price of £161,358 but a low number of young people living locally so young people, with the lender adding that more could be done to attract first-time buyers.

 

First-time buyers have ‘opportunities in every region’

Jon Cooper, director of mortgages at Aldermore, said buying a first property was a “major life goal for millions of people across the country, despite the many challenges of getting on the housing ladder”.

He continued: “Our Appeal Index demonstrates there are buying opportunities in every region, with cities offering different attributes for first time buyers. Even with the significant market and political uncertainty our insights show there are still options available for first-time buyers hoping to realise their dream.

“Would-be buyers should plan carefully to ensure they are prepared for the range of costs involved and should seek advice from a broker, who can help guide them through the process and navigate the complexity of the process.”