The UK's first-time buyer hotspots

by John Fitzsimons on 01 May 2012  |  9 comments
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Guest blogger Darren Beach looks at the towns most in demand from first-time buyers.

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:

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