A new study compares first-time buyer housing costs across Britain and finds that some northern towns are far cheaper than places such as St Albans in Hertfordshire. The analysis focuses on the “typical” asking price for a first-time buyer home in different locations and looks at changes over the past year.
The report says average asking prices for first-time buyer homes in several areas have risen by close to a fifth year-on-year. While many regions see affordability worsen, the study highlights a stark contrast between high-cost areas in the south and lower-cost markets in parts of the north. It claims that in one northern town, buyers can purchase four typical first-time buyer homes for the same price as one such home in St Albans.
Overall, the findings emphasize growing pressure on first-time buyers due to rising asking prices, alongside large geographic differences in affordability. The study’s headline comparison is presented as an illustration of how purchasing power varies by local housing market.
