Lloyds Study Identifies UK Areas With Youngest First-Time Buyers

Lloyds examined mortgage approval records to identify areas where first-time buyers tend to be younger than the national average. The analysis covered the 12 months ending in February and drew on data from Lloyds Bank, Halifax, and Bank of Scotland. Nearby Pendle and South Staffordshire also showed average ages just over 27, while north Norfolk and mid-Suffolk recorded averages around 28.

Scotland had the lowest average first-time buyer price at £147,353. Other low-cost areas included Inverclyde at £149,929 and Blackpool at £150,780. The study also ranked the most affordable areas within each region. In the North West, Blackpool recorded the lowest average price, while South Tyneside led the North East at £157,551.

A spokesperson for Lloyds said the research shows pockets of value remain for first-time buyers who are flexible on location and property type. The bank also announced a new low-deposit mortgage product available with a deposit as low as £5,000. The spokesperson advised first-time buyers to research the home-buying process, consult a mortgage professional early, and consider available support options.