First-time buyer statistics UK: 2024

What is the average age of a first-time buyer 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.

First-time buyer statistics: Highlights

  • The average age of a first-time buyer in the UK is 34.
  • The average house price for a first-time buyer in 2023 was £288,136, down from £302,008 in 2022.
  • The average first-time buyer deposit was £53,414 in 2023, 19% of the purchase price.
  • There were 293,339 first-time buyers in the UK in 2023, down 21% from 369,870 first-time buyers in 2022.

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 age of a first-time buyer in London?

The average age of a first-time buyer in London is now 35, a year older than the UK average. This has increased from a first-time buyer age of 32 in the capital in 2012 but is down from a decade-high of almost 37 in 2019.

How many first-time home buyers are there per year?

In 2023, there were 293,339 first-time buyers in the UK. This is down 21% from 2022 when there were a total of 369,870 first-time buyers. During the last decade, there have been an average of 335,978 first-time home buyers each year.

The South East had the highest number of first-time buyers in 2023, with 57,490 residents purchasing their first home. This is followed by Greater London, where there were 38,684 first-time buyers. Although prices and deposits are higher in these regions, they are still highly populated areas, so properties for first-time buyers are in demand!

Northern Ireland had the lowest number of first-time buyers at 8,353, followed by East Anglia (10,602) and Wales (12,641).

Year Number of first-time buyers
2013 258,210
2014 310,280
2015 298,200
2016 328,500
2017 345,920
2018 353,120
2019 351,260
2020 303,980
2021 405,310
2022 369,870
2023 293,339

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

The average house price for a first-time buyer in 2023 was £288,136, down 5% from the average first-time buyer house price of £302,008 in 2022.

House prices for first-time buyers vary across UK regions, with the highest average price of £492,234 in London. The second highest prices for first-time buyers can be found in the South East of England, with the average house price at £353,724.

Northern Ireland boasts the lowest average house price for first-time buyers, with an average cost of £174,337, followed closely by the North East with an average price of £174,693.

London house prices for first-time buyers are 1.7 times higher than the UK average, while house prices in Northern Ireland are just two-fifths (60%) 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.

Average first-time buyer house price UK
Region Average first-time buyer house price
London £492,234
South East £353,724
East of England £327,926
South West £273,968
West Midlands £236,253
East Midlands £235,941
North West £215,655
Yorkshire and The Humber £204,178
Wales £199,930
Scotland £188,670
North East £174,693
Northern Ireland £174,337

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

The average first-time buyer deposit in the UK is £52,414, approximately 19% of the average house price for a first-time buyer, which is £288,136.

However, the average deposit for a first-time buyer in London is £108,848, more than double the national average! The South East follows London and is also higher than the national average, with an average deposit of £59,075.

In other regions across the UK, you can expect to pay less than the national average for your deposit. The North East has the lowest average first-time buyer deposit of £29,740. This is almost a quarter of the average London deposit for first-time buyers.

Number of credit and debit cards in issue UK 2023
Region Average first-time buyer deposit
London £108,848
South East £59,075
East of England £52,682
South West £49,135
Scotland £39,691
West Midlands £37,459
Wales £36,350
East Midlands £36,139
North West £35,581
Yorkshire and The Humber £33,208
Northern Ireland £31,948
North East £29,740

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

The average deposit percentage for UK first-time buyers was 19% in 2023, meaning they would have to take out the remaining 81% 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 22%. First-time buyers in the East Midlands are putting down the smallest deposit percentage, at 15% of the overall purchase price on average.

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

Matt Mckenna
UK Head of Communications
T: +44 20 8191 8806

Written by

Emily Herring

Emily Herring is a Publisher at Finder specialising in credit-based products including credit cards and business and personal loans. Emily has recently joined the Investments team. She has a Masters in Creative Writing & Publishing and a Bachelor of Arts in Communication & Media. See full profile

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