Manchester has been crowned the top hot spot for first time buyers
The research, based on data from the Halifax House Price Index, analysed the areas of the country outside of London where first-time buyers account for the biggest proportion of home sales.
The survey said that Manchester saw first-time buyers account for 75% of all home purchases made with a mortgage last year, up from 65% in 2020.
The city is well-known for its young and vibrant population. A combination of more affordable housing, a strong jobs market, excellent transport links, rich cultural scene, and ongoing urban regeneration make it an attractive location for many first-time buyers.
Compared to many other cities, Manchester offers more affordable property prices. The average first-time buyer property price is £212,891, which is around £35,000 below the British average.
The city provides a range of property types, from modern apartments in regenerated areas to traditional terraced houses in suburban neighbourhoods, catering to different tastes and budgets.
Manchester they added, has experienced significant economic growth and business investment, particularly in sectors like technology, finance, and media, opening up new job opportunities.
