Contact Us

The 5 cheapest cities for first-time buyers

(Source: Rightmove.co.uk)

During the pandemic, lots of home movers looking to coastal towns and countryside villages, in search of more green spaces and a slower paced lifestyle. But recently, this trend has reversed and property portal Rightmove has seen a big shift in home-movers looking to return to cities.

If you are an expat living and working abroad and you want to buy your first home, you might be wondering which cities in Great Britain have the cheapest average property prices right now, along with lure of their vibrant social scenes, transport links, and metropolitan buzz.

The average asking price for a first-time buyer property – that’s a home with two bedrooms or fewer – is currently £226,399.

Rightmove has analysed the average asking price of these types of homes in 60 cities in Great Britain. The top five cheapest cities for first-time buyers all have an average house price that’s less than half the national average.

So which cities have topped their list?

Cities Average asking price for a first-time buyer type property (2 bedrooms and fewer) Average monthly rental payment (per month)
Bradford £104,643 £623
Carlisle £104,784 £556
Aberdeen £106,088 £718
Hull £106,939 £595
Dundee £111,415 £731

 

Based on Rightmove’s estimated rental costs, any of the above would qualify for an expat buy to let mortgage of £75,000, currently available at 5.49% variable (June 2023). Whilst many lenders have a minimum loan size for expat buy to let mortgages of £100,000, we have lenders who will offer smaller loans from £75,000.

Share this content with friends...
« Back to News