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The UK's first-time buyer hotspots

John Fitzsimons
by Lovemoney Staff John Fitzsimons on 01 May 2012  |  Comments 9 comments

Guest blogger Darren Beach looks at the towns most in demand from first-time buyers.

The UK's first-time buyer hotspots

It may be best known for its concrete cows and roundabouts, but Milton Keynes has been named as the UK’s most popular destination for first-time buyers.

A survey from Experian found that first-time buyers make up almost one in ten households (9.5%) in the Buckinghamshire town, closely followed by Dartford (9.3%) and Swindon (8.9%). 

Milton Keynes’s population has increased by over 13,000 people since 2007 and almost 4,500 between 2009 and 2010, with one major contributory factor to the area’s popularity for first-time buyers being a young population, with 62% of residents under the age of 44.

It is perhaps no coincidence that Dartford and Swindon have both seen similar large demographic growth in recent times, both having around 60% of residents under the age of 44. 

The other towns featured in the top ten follow a pattern of being areas with a young population, with good commuting links – motorway or public transport – for those who work in London.

The two types of first-time buyer

Experian’s research, using its unique Mosaic classification, found two main types of first-time buyer. The first is young singles or couples on middle incomes, who spend a large part of their income on mortgage interest, and are likely to be living on the outskirts of town near to motorway junctions, as a cheaper alternative to the more established residential areas of neighbouring towns.

The second group are generally under 35 and attracted by affordable, recent new-build property deals: often young couples prioritising the location in terms of proximity to public transport and city centre living.

The top ten first-time buyer hotspots

The top ten first-time buyer hotspots in the UK are:

Town

Percentage of households owned by first-time buyers

Milton Keynes

9.5%

Dartford

9.3%

Swindon

8.9%

Aldershot

8.6%

Hempstead Valley

8.2%

Basingstoke

8.1%

Crawley

7.8%

Slough

7.8%

Bexleyheath

7.6%

Aylesbury

6.9%

Having a good credit history is vital if you are looking to get a good mortgage deal. This is the history of your credit accounts, such as cards and loans, plus your repayment record. Lenders look at it before they make you an offer, so it needs to be accurate and up to date. Contact the relevant lender if you disagree with any item. You can see your Experian credit report for free with a 30-day trial of CreditExpert.

Darren Beach is editorial content co-ordinator at Experian.
What do you think? Where would you buy if you were a first-time buyer? Or would you stick with renting?

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Comments (9)

  • yocoxy
    Love rating 132
    yocoxy said

    I've been to MK quite a few times. I have friends that live very happily there and I've enjoyed every visit. I prefer living where I do on the south coast but I think MK is being targeted unfairly by people who admit they've rarely been there or at least not recently..

    It's interesting that The North gets so many votes as a wonderful place to live.. I'd say that "quality of life" is subjective but here's a survey that seems to contradict the idea that its best up north..

    http://www.guardian.co.uk/uk/2011/dec/24/north-hampshire-quality-life-survey

    Statistics that aren't subjective include the fact that in the north deaths from heart disease are significantly higher, alcohol related deaths are higher and overall life expectancy rates are highest in the south. Perhaps because obesity is highest in the North East and lowest in London.. And then there's the weather..

    So if you like your weather cooler and wetter or if you want to get fat, drink yourself to death or have a heart attack, it's off up the M1. If you want to live in any of the places ranked in the top 50 for quality of life in the survey I linked to above, head in the opposite direction.

    And I'd reccomend a stop in Milton Keynes en route, you might just find that you like it..

    Report on 12 May 2012  |  Love thisLove  0 loves
  • ingrams007
    Love rating 0
    ingrams007 said

    I live in Milton Keynes and have done since 1997 and I can safely say that the only benefit is good employment possibilities, which in turn creates a good standard of living with a high number of first time buyers. However having come originally from Hereford I only live in Milton Keynes for work and other that that find the place very soul-less and that includes the people, who are extremely image-conscious and rude. For this reason I would suggest going up North, as my experience suggests going South towards the smell of money doesn't always provide a good experience of life.

    Report on 05 August 2012  |  Love thisLove  0 loves

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