Date Published 14 February 2024
* The number of first-time buyers in 2023 fell by 21% compared with the year earlier, to 293,339. This would be due in part to rising affordability pressures.
* Focusing on an area can highlight local value hotspots. The BD1 postcode in Bradford offers an average property price of £69,939. This is lower than the local average and significantly less than the national average of £358,457 (England) and £225,025 (Wales). In these locations, properties are priced much lower than in other parts of the UK, making it easier for first-time buyers to get on the property ladder.
* Over half of the 20 most affordable locations were in the North East of England, four in the North West, three in Yorkshire and the Humber and two in Wales.
Source: Dataloft, Land Registry, based on average sales price achieved in the last 12 months (Dec 22 – Nov 23), all property types, Halifax
