Nationwide: The most affordable places for first-time buyers

Times are tough for first-time buyers, with house prices remaining elevated and mortgage rates climbing in recent weeks.

But there are still hotspots in Britain where first-steppers have a better chance of getting on the property ladder.

Nationwide has ranked the most affordable places for first-time buyers looking to purchase a home when comparing house prices against average wages, with Inverclyde in Scotland taking the crown.

Average first-time buyer house prices are just 2.3 times average earnings in the local authority, based on Nationwide’s analysis of UK Land Registry and ONS wage data.

Properties within the Inverclyde area, on the west coast of Scotland and home to the towns of Port Glasgow and Greenock, average out at an inexpensive £100,000.

Burnley, in the North West of England, is also one of the most affordable places for first-time buyers, Nationwide said.

Average first-time buyer house prices are 2.8 times average earnings in the Lancashire market town.

Meanwhile, first-steppers looking for the cheapest place to buy in the North of England should head to Hartlepool, where average first-time buyer house prices are 2.9 times average earnings.

The most affordable spot for first-time buyers in Yorkshire is Kingston upon Hull. Average property prices there are three times the mean salary.

Nationwide’s research also revealed the cheapest areas to buy in all other regions in Britain, including Wales (Merthyr Tydfil), the West Midlands (Stoke-on-Trent) and East Anglia (Great Yarmouth).

The most affordable place for first-time buyers in the South East of England is Gosport, where average house prices are 4.7 times average earnings.

In London, first-steppers’ task of getting on the ladder is tougher. In this part of the UK, the Bromley area is the most affordable place to buy a first home, Nationwide said. Average property prices are 6.2 times the average salary there.

Credit: Nationwide

Where has first-time buyer affordability improved the most?

In Britain, around 70% of local authorities have seen an improvement in affordability over the last year when comparing house prices with wages, according to Nationwide.

The majority of the areas where affordability has become less stretched are in London, where house price growth has struggled in recent years. However, house prices in the capital still remain “elevated” relative to earnings compared to other parts of Britain.

Islington, London, is the area where first-time buyers have seen the biggest improvement in their chances of getting on the ladder across England, Wales and Scotland. Average house prices are worth 7.8 times average earnings compared to 10.6 times in 2024.

Meanwhile, first-time buyers are finding it easier to get on the ladder in the City of London. Average house prices are worth 8.4 times average salaries compared to 11.1 times in 2024, a difference of 2.7.

Six other London boroughs are in Nationwide’s list of the top 10 authority areas where affordability has become less stretched for first-time buyers, including Hammersmith and Fulham, Barnet and Hackney.

Outside of London, Norwich saw the biggest improvement in affordability for first-time buyers between 2024 and 2025, driven by a large rise in average wages in the area.

First-time buyers are also finding it easier to get on the ladder in Welwyn Hatfield, Hertfordshire, as higher salaries meet falling house prices.

Credit: Nationwide

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