Buying any house is never easy, but navigating the processes for the first time? Well, that can feel like an impossible task – and that’s if you can afford it! But if you’re thinking about stepping onto the property ladder, you might want to consider moving to one of these areas in the West Midlands.
A new study from mortgage lender Halifax has listed the top 10 first-time buyer hotspots. With Manchester coming out on top, and Slough in second, it’s the borough of Sandwell that completes the podium – made up of the likes of Smethwick, West Bromwich, Tipton, Oldbury, Rowley Regis, and Wednesbury.
In 2023, first-time buyers made up 73% of all properties purchased with a mortgage in Sandwell. That’s compared to only 71% in 2020. But what makes it such an attractive area? Well, it’s likely all to do with affordability. Properties in Sandwell are significantly cheaper than the British average at £179,058 – around £40,000 below the average for the West Midlands too (£221,307).
Location also plays a huge role. It’s well-connected by major road networks, including the M5 and M6, and train links to Birmingham and Wolverhampton – ideal for commuters! And, thanks to significant economic regeneration and business investment in recent years, Sandwell isn’t too shabby either. Plus, the borough boasts 1,200 hectares of parks and green spaces.
It’s not the only West Midlands spot to be highlighted for first-time buyers either. Wolverhampton also made the list (coming ninth), alongside Leicester/Oadby, Reading, Thurrock, Dartford, Knowsley and Luton. The research is based on data from the Halifax House Price Index, which analysed the areas of the country where first-time buyers accounted for the biggest proportion of home sales.
Amanda Bryden, Head of Halifax Mortgages, said: “Deciding when and where to buy your first home is a deeply personal choice. While saving for a deposit and navigating higher interest rates pose a significant challenge for many prospective homeowners, life often intervenes and major milestones such as starting a new job or beginning a family can sway the decision.
“First-time buyers are often more willing to relocate to new areas in pursuit of finding the ideal home within their financial reach. This flexibility opens up a broader range of possibilities and can lead to more affordable housing options. Buying your own home remains one of the best long-term financial decisions you can make, and across the UK several locations stand out for their appeal to first-time buyers.”
Top 10 spots for first-time buyers in Britain (outside London):
- Manchester
- Slough
- Sandwell
- Leicester/Oadby
- Reading
- Thurrock
- Dartford
- Knowsley
- Wolverhampton
- Luton