First-time buyer statistics: Average age to buy a house in the UK

Looking for your first home and getting your foot on the property ladder is a massive milestone in your life, but there are some things you need to consider before you buy. Along with saving up for a deposit and finding the perfect home, you also need to find the best first-time buyer mortgage for you. We look at the latest statistics on first-time buyers in the UK.

Quick overview

• The average age of a first-time buyer in the UK is 34.
• The average first-time buyer deposit was £62,470 in 2022, up 8% from 2021.
• The average house price for first-time buyers was £302,010 in 2022, up 13% from 2021.
• The average deposit for first-time buyers in London is double the average UK deposit.
• The average deposit for UK first-time buyers was 21% of the house price in 2022.
• In 2022, the number of first-time buyers in the UK was 362,461, down 11% from 2021.

What is the average age of a first-time buyer in the UK?

The average age of a first-time buyer in the UK is 34, up from 32 in 2012 and from 30 in 2007. The age of a first-time buyer has been mostly trending upward since the banking crisis in 2007 and 2008, in part due to stricter mortgage lending rules. House prices have also been rising, making it harder for first-time buyers to access entry-level properties.

What is the average house price for a first-time buyer in the UK?

The average house price for UK first-time buyers was £302,010 in 2022, up 13% from £268,031 in 2021.

House prices vary across UK regions, and for first-time buyers, the highest average price was £518,900 in London. Northern Ireland boasts the lowest average house price for first-time buyers, with an average cost of £171,425.

London house prices for first-time buyers are 1.8 times higher than the UK average, while house prices in Northern Ireland are just 56% of the average house price in the UK. There is a substantial difference in house prices in different parts of the UK, which is a factor many first-time buyers will want to consider.

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What is the average deposit for a first-time buyer in the UK?

The average first-time buyer deposit in the UK is £62,470, approximately 21% of the average house price for a first-time buyer, which is £302,010.

However, the average deposit for a first-time buyer in London is £125,378, more than double the national average! The South East follows London quite far behind with an average deposit of £68,749.

In other regions across the UK, you can expect to pay less than the national average for your deposit, with the North East of England having the lowest average first-time buyer deposit of £30,198. This is less than a quarter of the average London deposit for first-time buyers.

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What is the average deposit percentage for first-time buyers in the UK?

The average deposit percentage for UK first-time buyers was 21% in 2022, meaning they would have to take out the remaining 79% as a mortgage. You can have a minimum of 5% of the purchase price as a deposit to buy your first home and take out the remaining 95% as a mortgage.

Generally speaking, if you can put down more as a deposit, you can access better deals and rates on your mortgage.

Londoners take the crown for the largest deposit as a percentage of the house price, at 24%. First-time buyers in the North East are putting down the smallest deposits and paying the lowest percentage in a deposit, at 17% of the overall purchase price.

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How many first-time buyers are there in the UK?

In 2022, there were 362,461 first-time buyers in the UK. This is a decrease of 11% from 2021, where there were 405,320 first-time buyers, but an increase from 2020, where 303,980 buyers were looking to purchase a home for the first time.

The drop in first-time buyers in 2020 was mainly due to the housing market coming to a standstill during the coronavirus pandemic, but this quickly rebounded to a record high number in 2021 and has levelled out in 2022.

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The number of first-time buyers by region

The South East has the highest number of first-time buyers, with 73,588 residents looking to purchase their first home. This is followed by Greater London, where there were 48,390 first-time buyers in 2022. Although prices and deposits are higher in these regions, they are still highly populated areas, so properties for first-time buyers are in demand!

Interestingly, Northern Ireland had the biggest increase in first-time buyers from 10 years ago, up 112% from 5,010 in 2012 to 10,641 in 2022.

• First-time buyers per region

What do buyers look for in a new home?

When comparing important features of buying a new home, the quality and quantity of outdoor space took the top spot. Our research showed that 33% of the UK considered this the most desirable feature. A surprising find was that only 17% of those surveyed considered being close to their family/friends the most essential factor to evaluate when buying a new home.

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What’s the least important factor when buying a home?

When asked to rank their most to least important features of buying a new house, on average, “the success of the local housing market” was rated least important as only 2% of those surveyed considered this to be a top priority.

Being close to good schools was also surprisingly low, with 9% of people placing this as their least important factor.

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• Previous research: First-time buyer statistics 2020

  Quick overview

  • The average age of a first-time buyer in the UK is 34 years old.
  • This is 6 years older than the average age of a first-time buyer in 2007, which was 28 years old.
  • The average deposit placed by a first-time buyer in 2019 was £46,200.
  • The average first-time buyer mortgage in 2019 was £185,300.
  • £231,500 was the average price of a home bought in the UK by a first-time buyer in 2019.
  • The average deposit for a first-time buyer in London (£110,000) is almost as much as the total mortgage for a buyer in the North of England (£112,000).
  • There were 356,000 first-time buyers in 2019, which was 163,000 more than in 2009.
  • 6.2 million Brits (12%) said they moved back in with their parents due to the COVID-19 pandemic.
  • When you factor in parents who said their adult children had moved home with them, this figure rises to as much as 20% (10.5 million)
  • Two-thirds (68%) of those who moved home said they expected to stay put for the foreseeable future.
  • Of those who moved home, around 1.1 million Brits (18%) said they are paying rent on accommodation that they were not using. Over the first 3 months of lockdown, this cost an average of £2,658 per person and £2.9 billion across the UK.
  • A third (33%) of the UK list outdoor space and its size as the most important factor when buying a house.
  • 8% of the UK say they will not buy a property or another one.
  • When it comes to those buying a home, over a third (34%) said that they will do so with a partner.

  The housing market vs coronavirus

  Despite mortgage approvals being down in 2020 so far (418,000 approvals) compared with the same period in 2019 (520,000 approvals), monthly mortgage approvals in August were the highest since 2007. This was due to buyers flooding the market to make the most of the government’s temporary zero stamp duty rate on transactions up to £500,000. This stamp duty holiday period started in July 2020 and ended in June 2021.

  How old is the average first-time buyer?

  The average age of a first-time buyer is 34, 6 years older than the average age of 28 in 2007 and 8 years older than the average age of 26 in 1997. This increase in the average age of first-time a buyer is likely due to the rise in the popularity of renting across all but the oldest age group. Those aged 25-34 have seen the biggest change, with 55% now renting, up from 35% in 1998.

  There are several factors that could be contributing to declining rates of homeownership. This includes the increasing costs of entry-level properties and stricter mortgage lending rules following the 2008 recession.

  34 years old

  The average age of a first-time buyer in the UK is 34.

  Average house price, mortgage and deposit for first-time buyers

  The average price of a home bought by a first-time buyer in 2019 was over £231,500. In order to afford this, the average deposit was £46,200, or 20% of the house price, with an average mortgage of £185,268.

  Average house price for a first-time buyer, 2009-2019

  • The most expensive region. Unsurprisingly, was the most expensive region is London, where the average house price was £453,385 in 2019. London has also seen the biggest change over time, with a £231,278 (104%) increase from 2009.
  • The cheapest region. On the other end of the spectrum, the cheapest region was the North, where the average house costs just £136,104 in 2019. Despite this, the North has seen a 38% price rise since 2009.
  • The biggest increases since 2009. Outside of London, the biggest rise in house prices was in the South East (73%), followed by the East Midlands (68%), East Anglia (64%) and the West Midlands (57%).
  • The biggest recent increases (since 2018). The biggest recent rise in house prices was in the Yorkshire and Humberside (9%), followed by the North West (9%) and the North (8%), the East Midlands (8%) and Scotland (8%).

  • Average house price by region
  • Table

  Region	2009	2018	2019	2009-2019 % change	2009-2019 £ change	2018-2019 % change	2018-2019 £ change
  UK	£138,633	£213,203	£231,455	67%	£92,823	9%	£18,252
  North	£98,396	£126,187	£136,104	38%	£37,708	8%	£9,917
  Yorkshire and Humberside	£105,403	£143,100	£156,232	48%	£50,829	9%	£13,132
  North West	£108,538	£149,984	£163,459	51%	£54,920	9%	£13,475
  East Midlands	£108,570	£168,569	£181,876	68%	£73,306	8%	£13,307
  West Midlands	£117,914	£176,008	£185,091	57%	£67,177	5%	£9,083
  East Anglia	£134,707	£216,191	£220,719	64%	£86,012	2%	£4,528
  Wales	£104,500	£142,740	£153,267	47%	£48,767	7%	£10,526
  South West	£145,876	£211,117	£221,357	52%	£75,482	5%	£10,240
  South East	£170,686	£280,829	£295,348	73%	£124,662	5%	£14,518
  Greater London	£222,107	£425,622	£453,385	104%	£231,279	7%	£27,764
  Northern Ireland	£122,699	£127,599	£136,850	12%	£14,151	7%	£9,250
  Scotland	£111,042	£141,957	£152,728	38%	£41,687	8%	£10,771

  Average deposit for a first-time buyer, 2009-2019

  A house deposit is the amount of money you initially pay towards your house, which is a percentage of the full cost of the property you want to buy. A lender gives you a mortgage for the rest of the property, which you eventually pay back. You usually need a deposit of at least 5% of the property’s value, but the average deposit in the UK is 20%.

  • The biggest deposit. A deposit for a house in London costs the most, at an average of £109,885 in 2019. London has also seen the greatest increase in deposit price since 2009, with a £31,908 (41%) increase since 2009.
  • The smallest deposit. The North of England is the most affordable place for first-time buyers to put down a deposit for a house, costing just £24,091 in 2019. This is less than a quarter of the average London deposit and just over half the UK average.
  • The difference. For first-time buyers, the average deposit in London (£110,000) is almost as much as the average total mortgage (£112,000) in the North of England.
  • The biggest deposit decrease. Northern Ireland is the second cheapest place to put down a deposit, costing just £25,317 on average in 2019. This is a massive £9,039 (26%) decrease since 2009.

  • Average house deposit by region
  • Table

  Region	2009	2018	2019	2009-2019 % change	2018-2019 change	2018-2019 % change	2018-2019 change
  UK	£38,900	£43,155	£46,187	19%	£7,287	7%	£3,032
  North	£19,246	£21,263	£24,091	25%	£4,845	13%	£2,829
  Yorkshire and Humberside	£23,543	£24,709	£27,598	17%	£4,055	12%	£2,889
  North West	£24,931	£26,916	£29,472	18%	£4,541	9%	£2,556
  East Midlands	£26,374	£29,647	£32,917	25%	£6,543	11%	£3,270
  West Midlands	£30,200	£32,605	£34,178	13%	£3,978	5%	£1,573
  East Anglia	£39,125	£44,828	£43,188	10%	£4,063	-4%	-£1,640
  Wales	£20,675	£23,679	£25,704	24%	£5,029	9%	£2,025
  South West	£44,724	£41,247	£42,584	-5%	-£2,139	3%	£1,337
  South East	£51,354	£54,674	£54,425	6%	£3,072	0%	-£249
  Greater London	£77,977	£107,869	£109,885	41%	£31,908	2%	£2,016
  Northern Ireland	£34,356	£24,124	£25,317	-26%	-£9,039	5%	£1,194
  Scotland	£26,427	£27,071	£29,950	13%	£3,523	11%	£2,879

  Number of first-time buyers

  The total number of first-time buyers has remained consistent over the last 3 years, with around 350,000 first-time buyers each year. 2019 predictions show that there has been a small amount of growth in the number of first-time buyers – 1% from 2018 to 2019. The biggest rise in the last 10 years was in 2013, when there was a 22% increase in first-time buyers.

  In 2019, over half of the homes purchased with house purchase loans were purchased by first-time buyers. This is the first time this has happened in the last 10 years, with the figure slowly increasing year-on-year since 2011.

  • Number of first-time buyers by year
  • Table

  Year	Number of first-time buyers	Annual change (%)	Percentage of first-time buyer house purchase loans
  2006	400,870	32%	35%
  2007	357,590	-11%	36%
  2008	191,040	-47%	38%
  2009	193,940	2%	39%
  2010	193,590	0%	37%
  2011	187,990	-3%	38%
  2012	211,920	13%	40%
  2013	258,700	22%	44%
  2014	300,370	16%	46%
  2015	297,520	-1%	46%
  2016	329,000	11%	48%
  2017	345,920	5%	49%
  2018	353,130	2%	50%
  2019	356,767	1%	51%

  Number of first-time buyers by region

  The number of first-time buyers varies by region. The South East had the most first-time buyers in 2019, with over 68,000 people buying their first home. The region with the lowest amount of first-time buyers was Northern Ireland, where just over 11,000 people bought their first home in 2019.

  The map below shows how many first-home buyers were in each region in 2019.

  The number of first-time buyers has risen in every single region across the UK since 2009. The region that has experienced the most growth in the last 10 years is Northern Ireland, where there was a 151% increase from 2009 to 2019 – that’s 6,600 more first-time buyers. The biggest change by straight numbers was seen in the South East, where 28,000 more people bought their first home in 2019 than in 2009 (a 69% increase).

  First-time buyers by region, 2009-2019

  • Number of first-time buyers by region
  • Table

  Region	2009	2014	2018	2019
  North	7,920	12,730	16,310	16,229
  Yorkshire and the Humber	14,720	23,660	29,520	30,456
  East Midlands	13,710	21,410	27,480	27,737
  East Anglia	7,730	10,950	12,550	12,563
  Greater London	29,250	46,680	40,960	41,712
  South East	40,410	61,480	68,670	68,485
  South West	16,530	24,190	29,430	28,378
  West Midlands	15,520	24,260	31,340	31,848
  North West	18,200	29,010	37,960	38,675
  Wales	7,410	11,880	15,930	16,106
  Scotland	17,580	26,680	32,530	33,558
  N. Ireland	4,380	7,170	10,430	11,013
  UK*	193,940	300,370	353,130	356,767

  First-time buyer mortgages

  Over 350,000 Brits took out a mortgage to buy their first home in 2019, a 5% decrease from 2018. In December 2019, 29,490 first-time buyer mortgages were taken out, 0.3% more than in December 2018 (29,390). Take a look at the graphic below to see how many first-time buyers took out a mortgage each month of 2019.

  Based on a total mortgage borrowing of £59.9 billion in 2019, the average individual mortgage size is, therefore, equivalent to £170,000. So far in 2020, the average mortgage size for first-time buyers is £170,301.

  • Number of new first-time buyer mortgages per month
  • Table

  Month	Number of new first-time buyer mortgages
  December 2018	29,390
  January 2019	24,430
  February 2019	24,320
  March 2019	28,210
  April 2019	26,640
  May 2019	29,620
  June 2019	31,570
  July 2019	31,240
  August 2019	33,500
  September 2019	29,070
  October 2019	32,520
  November 2019	30,840
  December 2019	29,490

  • Chart
  • Table

  Region	Number of first-time buyers
  South East	73,588
  Greater London	48,390
  North West	37,534
  Scotland	31,184
  West Midlands	30,172
  Yorkshire and The Humber	29,635
  South West	28,169
  East Midlands	27,842
  North East	16,716
  Wales	15,114
  East of England	13,473
  Northern Ireland	10,641

  Sources

  • UK Finance
  • Halifax
  • Office for National Statistics (ONS)

Click here for more research. For all media enquiries, please contact:

Matt Mckenna
UK communications manager
T: +44 20 8191 8806

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