Recent research has identified the least and most expensive cities for a first-time buyer (FTB) in the UK.
Least Expensive: Aberdeen
Aberdeen stands out as the most affordable city, with a typical home costing £102,601 (assuming a first-time buyer property has two bedrooms or fewer). With a 20% deposit and a 35-year mortgage term, the average monthly mortgage payment is £406.
Most Expensive: London
London tops the list as the most expensive city, where a first home typically costs £501,934. St. Albans follows as the priciest location outside of the capital, with an average asking price of £391,964 for FTBs. Monthly payments in St. Albans are generally £1,454, based on a 25% deposit, which is the average in England.
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