Manchester is property hotspot for first-timers

MANCHESTER is Britain's top firsttime buyer hotspot outside London, according to analysis of mortgage lending data by a major bank.

-  VICKY SHAW

Halifax looked at mortgage approval data to calculate the findings, looking at the areas of Britain, excluding London, where first-time buyers account for the biggest proportions of home sales.

It estimated that in Manchester, first-time buyers accounted for three-quarters (75 per cent) of home purchases with a mortgage last year, up from just under two-thirds (65pc) in 2020.

With its music, arts and cultural scene, a vibrant shopping centre and leafy suburbs, Manchester has a wealth of attractions for people looking to move to the city. Halifax said that a combination of relatively affordable housing, a strong jobs market, transport links and ongoing urban regeneration make it an attractive location for many first-time buyers.

The average first-time buyer property price is £212,891, which is around £35,000 below the average across Britain - excluding London, according to Halifax.