Happy (first time) homeowner – The top cities for first time buyers
(spoiler: the north runs away with it)
We recently wrote about how the north is an amazing place to be for singles looking for love and businesses hoping to flourish. And as it turns out, the north is also a promising place for first-time buyers taking their fledgling step onto the property ladder.
Five of the top eight cheapest places to buy are up North
Here’s how the figures pan out (according to Zoopla’s UK Cities House Price Index for May 2019)…
- Liverpool (average sold price £123,000)
- Glasgow (£125,400)
- Newcastle (£128,200)
- Belfast (£135,400)
- Sheffield (£139,000)
- Nottingham (£154,700)
- Birmingham (£165,800)
- Leeds (£166,900)
Now see how the UK compares…
But that’s not quite the whole story…
The price of first-time homes are one thing. But what about living costs – like energy bills, travel passes and average monthly net salary? Well, six out of the top ten ranked cities in this respect are ALSO northern. Here’s the run down (According to TogetherMoney)…
| Ranking | City | Monthly travel pass | Bills (electricity, heating etc) for apartment | Price per sq metre to buy apartment | Average monthly net salary (after tax) | Mortgage interest rate, yearly, for 20 years fixed-rate % | Mortgage as a percentage of income % |
| 1 | Sheffield | £53.50 | £111.22 | £1,220.00 | £1,683.33 | 3.66 | 23.27% |
| 2 | Newcastle | £51.84 | £197.51 | £1,825.00 | £1,825.00 | 2.93 | 28.31% |
| 3 | Aberdeen | £66.00 | £150.33 | £2,900.00 | £2,170.00 | 3.74 | 33.97% |
| 4 | Glasgow | £50.00 | £107.77 | £2,350.00 | £1,844.70 | 3.41 | 38.52% |
| 5 | Leeds | £56.00 | £136.38 | £2,833.33 | £1,958.34 | 3.15 | 43.62% |
| 6 | Belfast | £56.00 | £78.06 | £2,147.49 | £1,511.76 | 3.62 | 43.01% |
| 7 | Manchester | £64.02 | £148.80 | £2,670.76 | £1,768.88 | 3.32 | 49.45% |
| 8 | Cardiff | £54.50 | £102.16 | £3,000.00 | £1,755.38 | 2.91 | 50.75% |
| 9 | Birmingham | £60.00 | £124.72 | £3,150.00 | £1,659.43 | 2.83 | 49.76% |
| 10 | Swansea | £80.00 | £150.98 | £2,812.00 | £1,555.00 | 3.31 | 46.83% |
| 11 | Nottingham | £55.00 | £153.60 | £2,450.00 | £1,502.77 | 3.27 | 50.50% |
| 12 | Edinburgh | £54.00 | £106.32 | £3,758.33 | £1,851.15 | 2.82 | 55.65% |
| 13 | Bristol | £66.00 | £150.98 | £4,033.33 | £1,978.95 | 3.31 | 58.96% |
| 14 | Bath | £66.00 | £135.00 | £5,050.00 | £2,250.00 | 3.25 | 69.96% |
| 15 | York | £42.00 | £136.20 | £3,500.00 | £1,791.73 | 3.60 | 57.83% |
| 16 | Leicester | £56.00 | £150.83 | £3,000.00 | £1,577.22 | 3.20 | 57.99% |
| 17 | Liverpool | £64.70 | £123.48 | £4,941.09 | £1,729.57 | 3.10 | 71.30% |
| 18 | London | £135.00 | £148.02 | £13,397.67 | £2,507.90 | 3.27 | 143.62% |
| 19 | Cambridge | £56.00 | £180.86 | £5,853.33 | £1,869.17 | 3.63 | 93.40% |
| 20 | Brighton | £71.00 | £146.60 | £5,056.39 | £1,617.38 | 3.34 | 101.99% |
| 21 | Oxford | £54.25 | £197.64 | £7,633.33 | £1,761.67 | 3.38 | 133.22% |
So, where will it be? The bright lights and ultimate city living culture of Liverpool, or the welcoming, recently redeveloped streets of Leeds?
Wherever you’re going, our York moving service is ready and waiting – whether moving internationally or across the county.
07931 849 112 | 01904 375 995 | Get your removals quote online | admin@vanmanyork.co.uk
