"What is interesting about this data is that it’s highlighting the areas that are catering to those who want to become homeowners, with upward trends in all areas on the list"
- Saif Derzi - Property Buyers Today
Preston has been identified as the tenth-highest-rising location for first-time buyers over the last decade, according to new data assessing changes across England, Scotland and Wales.
The study, carried out by Property Buyers Today, analysed GOV.UK figures on the percentage of residential transactions involving first-time buyers in each local authority since 2014. The authorities were ranked by the percentage increase in first-time buyer purchases, with Northern Ireland excluded due to unavailable data.
Mid Suffolk ranks first, recording a 100.31% increase in first-time buyer transactions over the past ten years. The area reported 637 purchases in 2024 compared with 318 in 2014, with the average price for a first-time buyer standing at £265,464.
Malvern Hills in Worcestershire takes second place with an 86.96% rise. Transactions increased from 184 in 2014 to 344 in 2024, while the average purchase price reached £264,886.
The City of London sits in third position with a 75% increase. The figures relate specifically to the local authority area, which covers central districts from Tower to Farringdon. Although overall sales volumes remain low, the number of first-time buyer purchases increased from 20 in 2014 to 35 in 2024. The average price for a first-time buyer property is the highest in the top ten at £749,343.
Babergh places fourth, giving Suffolk two entries in the top tier. Transactions rose by 66.67%, climbing from 249 in 2014 to 415 in 2024. First-time buyers paid an average of £263,711.
Winchester follows in fifth with a 65.19% increase in first-time buyer sales. The number of transactions reached 636 in 2024 compared with 385 in 2014. At £369,084, the average price for a first-time buyer is the second highest in the top ten.
In sixth position, Tewkesbury in Gloucestershire has seen a 62.32% uplift in first-time buyer activity. The area reported 685 purchases in 2024 against 422 in 2014, with an average price of £258,639.
Melton in Leicestershire ranks seventh, recording a 62.01% rise. The number of purchases increased from 179 in 2014 to 290 in 2024.
South Hams in Devon places eighth with a 61.89% increase. First-time buyer sales rose from 244 in 2014 to 395 in 2024, and the average property price now stands at £301,675.
Tendring in Essex takes ninth place. The area recorded a 59.43% increase, with 419 transactions in 2014 rising to 668 in 2024. The average purchase price for first-time buyers is £227,564.
Rounding out the top ten, Preston has seen a 59% rise. With 892 first-time buyer transactions in 2024 compared with 561 in 2014, the area also offers the lowest average price in the top ten, which may contribute to its strong growth.
The authority with the lowest change over the period is Na h-Eileanan Siar, which recorded a 39.45% decrease.
The 10 local authorities with the highest increase in first time buyer purchases since 2014
| Rank | Local Authority | Percentage increase in FTB purchases since 2014 | FTB sales in 2014 | FTB sales in 2024 | Average house price for an FTB purchase |
| 1 | Mid Suffolk | 100.31% | 318 | 637 | £265,464 |
| 2 | Malvern Hills | 86.96% | 184 | 344 | £264,886 |
| 3 | City of London | 75.00% | 20 | 35 | £749,343 |
| 4 | Babergh | 66.67% | 249 | 415 | £263,711 |
| 5 | Winchester | 65.19% | 385 | 636 | £369,084 |
| 6 | Tewkesbury | 62.32% | 422 | 685 | £258,639 |
| 7 | Melton | 62.01% | 179 | 290 | £236,468 |
| 8 | South Hams | 61.89% | 244 | 395 | £301,675 |
| 9 | Tendring | 59.43% | 419 | 668 | £227,564 |
| 10 | Preston | 59.00% | 561 | 892 | £157,380 |
“Through sentiment alone, getting on the property ladder seems to be an impossible feat for many of the younger generations, with increased property prices and wages that just don’t seem to match the same pace,” commented Saif Derzi, founder of Property Buyers Today. “What is interesting about this data is that it’s highlighting the areas that are catering to those who want to become homeowners, with upward trends in all areas on the list."
“Notably, the average property price in one of the top ten locations doesn’t go over £300,000 apart from a couple of exceptions, which is indicative of what Brits are able to currently afford. For developers, mortgage lenders, and even the government, it’s worth considering why there is such an uptick in some areas but such a drastic decline in others.
“Whilst many areas have seen rejuvenation in the forms of shops, transport links and just an injection of funding from local bodies which can contribute to an increase in home ownership, ultimately, as this data shows, the key to seeing more first-time buyers in an area is by allowing properties to be affordable, and that means, where possible, keeping properties desirable but under the £300,000 threshold.”
