Luton was the most popular spot for first-time buyers searching for homes in England, Scotland and Wales between August and October, according to Zoopla.
Those looking to get onto the housing ladder in the Bedfordshire commuter town need a typical deposit of £37,500, which is 15 per cent of the average price of a first-time buyer home at £250,000.
The second most popular place in England, Wales and Scotland for first-time buyers was Wolverhampton in the West Midlands where borrowers would need a deposit of £21,750 for an average first home costing £145,000.
Two other West Midlands locations – Sandwell and Coventry – also feature in the top 20 most popular first-time buyer spots, coming in eight and 15th place respectively.
Third in the top 20 was Barking and Dagenham in London, where borrowers need a deposit of £48,750 to buy a typical first-time buyer home for £325,000.
The full list is detailed in the table below.
Zoopla head of research Gráinne Gilmore says: “Activity levels in the housing market have been building across the country in recent months following sharp increases in buyer demand.
“First-time buyers remain one of the largest cohorts of purchasers across the country, and our data shows that they remain very active within the capital.
“There is noticeable activity across the wider commuter zones into the East of England too, perhaps reflecting different commuting patterns for office-based workers.
“The hotspots in the West Midlands reflect activity in this market more widely, but also underlines how the increased affordability of housing in these markets is appealing to those climbing onto the housing ladder.
“Activity levels will remain elevated into next year, and first-time buyers in many of these hotspots will still be able to secure a home with no stamp duty to pay or a reduced bill even after the end of the stamp duty holiday.
“The stamp duty exemption for first-time buyers on homes worth up to £300,000, which applies to homes worth up to £500,000, will remain in place after the stamp duty holiday ends on March 31.”
| Rank | Region | Local Authority | Typical first-time buyers’ house price* | Deposit required (15%) | Household Income required |
| 1 | East of England | Luton | £ 250,000 | £ 37,500 | £ 47,000 |
| 2 | West Midlands | Wolverhampton | £ 145,000 | £ 21,750 | £ 27,000 |
| 3 | London | Barking and Dagenham | £ 325,000 | £ 48,750 | £ 61,000 |
| 4 | London | Tower Hamlets | £ 445,000 | £ 66,750 | £ 84,000 |
| 5 | East of England | Harlow | £ 275,000 | £ 41,250 | £ 52,000 |
| 6 | London | Hackney | £ 475,000 | £ 71,250 | £ 90,000 |
| 7 | London | Newham | £ 350,000 | £ 52,500 | £ 66,000 |
| 8 | West Midlands | Sandwell | £ 160,000 | £ 24,000 | £ 30,000 |
| 9 | London | Islington | £ 525,000 | £ 78,750 | £ 99,000 |
| 10 | London | Greenwich | £ 350,000 | £ 52,500 | £ 66,000 |
| 11 | East of England | Thurrock | £ 285,000 | £ 42,750 | £ 54,000 |
| 12 | London | Waltham Forest | £ 400,000 | £ 60,000 | £ 76,000 |
| 13 | East of England | Basildon | £ 270,000 | £ 40,500 | £ 51,000 |
| 14 | London | Southwark | £ 450,000 | £ 67,500 | £ 85,000 |
| 15 | West Midlands | Coventry | £ 170,000 | £ 25,500 | £ 32,000 |
| 16 | London | Lewisham | £ 375,000 | £ 56,250 | £ 71,000 |
| 17 | West Midlands | South Staffordshire | £ 150,000 | £ 22,500 | £ 28,000 |
| 18 | London | Hounslow | £ 400,000 | £ 60,000 | £ 76,000 |
| 19 | South East | Slough | £ 345,000 | £ 51,750 | £ 65,000 |
| 20 | South East | Reading | £ 260,000 | £ 39,000 | £ 49,000 |
