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First-time buyer statistics
How many Brits are getting their foot on the property ladder?
Looking for your first home and getting your foot on the property ladder is a massive milestone in your life, but it doesn’t come without a few obstacles along the way. Along with saving up for a deposit and finding the perfect home, you also need to consider which mortgage lender is right for you.
- The average age of a first-time buyer in the UK in 2019 is 32 years old.
- This is 2 years older than the age of the average first-time buyer in 2018, which was 30 years old.
- There were 353,000 first-time buyers in 2019, which was 159,000 more than in 2009.
- The average deposit placed by first-time buyers in 2018 was £32,800.
- The average first-time buyer mortgage in December 2019 was £174,000.
- £210,000 was the average house price of homes bought in England by first-time buyers in 2019.
- The average deposit for first-time buyers in London (£110,000) is almost as much as the average house price in the North of England (£126,000).
The housing market vs coronavirus
While in lockdown, people aren’t able to view properties and it’s much harder to get a mortgage. These factors, plus a lack of appetite to sell or buy, means the house pricing market has taken a hit in the UK. The number of house sales in the UK is forecasted to fall 40%, from 1.18 million properties to only 734,000 sold in 2020.
Prices are also anticipated to fall by 3% in the short term. Exactly how it will play out is impossible to predict, as no one knows the effects of the pandemic, but a drop in demand is expected to last until at least September.
How old is the average first-time buyer?
The average age of a first-time buyer is 32 in December 2019, 2 years older than the average age in December 2018. The average age of first-time buyers in the UK has remained fairly consistent over the last 3 years at above 30 years of age, increasing to 32 years of age in February of this year.
Number of first-time buyers
The total number of first-time buyers has remained consistent over the last three 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 of 1% from 2018 to 2019. The biggest rise in the last 10 years was in 2013 where there was a 22% increase in first-time buyers.
In 2019, over half of the homes purchased with house purchase loans were 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.
Explore the graph and table below to find out the trend in the number of first-time buyers over the last 10 years.
|Year||Number of first time buyers||Annual change (%)||FTB as a percentage of House Purchase Loans|
The number of first-time buyers varies by region, with the South East having 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.
Explore the map and table below to find out how many people bought their first home in your region in 2019.
The number of first-time buyers has risen in every single region across the UK since 2009. The region that experienced the most growth in the last 10 years is Northern Ireland, where there was a 151% increase in 2019 compared to 2009 – with 6,600 more first-time buyers. The biggest change in numerical terms is the South East, where 28,000 more people bought their first home in 2019 compared to 2009 (69% increase). Explore the graph and table below for more information.
First-time buyers by region, 2009 and 2019 compared
First-time buyers by region, 2009 and 2019 compared
|Region||2009||2019*||Numerical Change||Percentage Change|
|Yorkshire and the Humber||14,720||30,456||15,736||106.90%|
First time buyer mortgages
Over 350,000 of us took out mortgages to buy our first home in 2019. 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 in 2019 of £59.9 billion, the average mortgage size is, therefore, equivalent to £170,000 in 2019.
|Time period||Number of new first-time buyer mortgage loans|
Average first-time buyer house price per region
The average house price of a home bought in England by first-time buyers in 2019 was £210,000, £125,000 in Scotland and £149,000 in Wales. The region in which first-time buyers bought their homes had a huge impact on the price they paid. The average house price in London (Inner and Outer London averaged) was understandably the highest, costing £438,000 compared to just £110,000 in the North East of England. Explore the map below to find out more.
|Region||First-Time buyer average price|
|Yorkshire and The Humber||£141,988|
|West Midlands Region||£170,332|
|East of England||£241,550|
- UK Finance
- Office for National Statistics (ONS)
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