Bridlington and St Helens named as FTB hotspots: Rightmove Mortgage Finance Gazette

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Bridlington in East Riding of Yorkshire and St Helens in Merseyside lead the way where first-time buyer prices are rising fastest across Great Britain Rightmove reveals.

In these areas, average asking prices up 18% compared to last year with the average cost of a house in Bridlington standing at £167,321 and in St Helens at £133,106.

Falkirk in Stirlingshire and Hartlepool follow closely behind, up 17% to £118,327 and 12% to £104,276 respectively.

All of the fastest-growing locations in the analysis remain below the £170,000 asking price mark, which Rightmove says underlines sustained demand for homes that are within reach for first-time buyers.

Across Great Britain, the average asking price for a typical first-time buyer property featuring up to two bedrooms is now £228,048, which is 0.7% lower than this time last year.

By contrast, some higher-priced southern markets are seeing more subdued conditions.

Locations including Brighton and Southampton have recorded declines in first-time buyer asking prices this year, suggesting that affordability constraints and high levels of stock are prompting buyers to be more selective.

St Albans in Hertfordshire is the most expensive area to buy a typical first-time buyer home, with the average asking price at £401,352. This compares to Middlesbrough, which is listed as the most affordable at £90,929.

Rightmove property expert Colleen Babcock says: “Affordability continues to shape where first-time buyers are looking, and we’re seeing the strongest price growth in areas where homes remain within reach for more people.”

“Lower-cost locations are still seeing strong interest, with competition for homes helping to hold prices up. In more expensive markets, tenants are taking a bit more time and thinking more carefully about what they can afford, which is keeping growth relatively flat.”

Also commenting, Skipton Building Society chief executive Charlotte Harrison says: “The strong house price growth reflects the continued strength of demand in comparatively lower-cost northern markets, where many first-time buyers are prioritising flexibility, value and space.”

“Our latest Skipton Group Home Affordability Index shows average first time buyer deposits in the North of England equate to around half the level of London, and buyers in the North are also often able to secure larger homes than they require.”

“However, our data also shows that affordability pressures remain significant, even in areas experiencing strong asking-price growth. In the former East Riding local authority area, where Bridlington has seen some of the fastest growth, only one in eight (12.9%) are currently able to afford to buy a home without any financial support.”

“In St Helens, affordability pressures are even more pressing, with just 2 in 100 people currently able to afford homeownership based on their own support.”

“While these northern markets continue to attract strong interest, sustaining balanced growth in these areas will depend on improving access to homeownership and ensuring housing supply keeps pace with demand, particularly for first time buyers.”