These are the highest ten cities within the UK for first-time consumers

When it comes to purchasing their first house, most individuals have a tendency to stay to the place their household and job are positioned. 

But if they’d the entire UK to select from, which places would come out on high? 

The Co-operative Bank has ranked 30 UK cities utilizing metrics corresponding to common home worth, crime charges, site visitors ranges and life satisfaction, as a way to work out the highest vacation spot for first-time consumers. 

According to its analysis, Swansea is one of the best metropolis within the UK to get on the property ladder. 

Wales’ second metropolis has a median complete value of shopping for a home of £195,687, marking it as probably the most inexpensive cities within the UK.

The prices used within the analysis embody the value of the home in addition to conveyancing, surveying and stamp responsibility – though first-time consumers is not going to pay the latter if their house prices lower than £425,000. 

Why is Swansea a high location? 

Matthew Barry, director of Swansea-based property brokers Astleys, advised This is Money: ‘Swansea stands out as a unbelievable selection for first-time consumers as a result of its numerous housing choices and affordable pricing. 

‘The metropolis affords quite a lot of housing varieties starting from residences to indifferent homes, catering to totally different preferences and budgets.

‘One of Swansea’s key sights for first-time consumers is its affordability in comparison with bigger cities, making property possession extra accessible.’

Meanwhile, Ben Davies, managing director of Belvoir Swansea property brokers mentioned: ‘Swansea affords first-time consumers a life-style selection that most of the massive cities cannot compete with. We’re fortunate sufficient to have an unimaginable shoreline right here in Swansea that stretches from town all the best way across the Gower peninsula, in addition to loads of inexperienced areas and world famend seashores.’

‘The lovely space we reside in, coupled with inexpensive home costs, makes Swansea a really enticing possibility for individuals seeking to get on the housing ladder for the primary time.’

Beyond simply affordability, Swansea delivered a low crime security index rating, and a life satisfaction score of seven.5 out of 10.

The metropolis additionally had a site visitors index rating of 93.6, decrease than eight of the cities within the high ten, solely shedding out to Sheffield at 90.3 and Stoke-on-Trent at 83.5.

Dawsons Property senior accomplice Chris Hope added: ‘Swansea is a real City by the Sea, providing such a variation of way of life with coast, nation, village and metropolis residing accessible to all.’

‘In only a small 20 mile radius one can find a variety of property kinds starting from excessive rise residences, small cottages… alongside along with your typical terraces, bungalows, semi and indifferent properties inside the suburbs, one thing for everybody and their finances.’

What different places made the listing? 

Despite having a median home shopping for value of £346,293 – the third highest after Bristol and London, Edinburgh ranks because the second-best location for first-time consumers to quiet down.

The Scottish capital, nevertheless, has the bottom crime security index rating of simply 30.9, and the best life satisfaction rating at 7.7 out of 10.

The most cost-effective metropolis within the high 10 was Blackpool, which  positioned because the seventh best choice for first-time consumers, with a median shopping for value of £135,995 – effectively below half what it prices to purchase a home in Edinburgh.

While home costs are significantly decrease in Blackpool, it has a criminal offense security index rating of 59.1, the best out of the highest ten locations. Even so, it nonetheless delivered a satisfaction price of seven.5 out of 10.

Alongside Blackpool, Kingston upon Hull, Stoke-on-Trent and Sunderland all made it into the highest ten cities, with common shopping for costs of £140,814, £143,642 and £147,319 respectively.

This compares to an enormous £547,360 common shopping for worth for houses in London, the most costly metropolis.

Of the 30 cities analysed, London comes out because the second-worst possibility for first-time consumers to quiet down, with solely Southend-on-Sea proving to be a worse possibility for getting your first home.

The third finest metropolis for these buying their first house was Plymouth, The Co-operative financial institution mentioned, with a median shopping for worth of £225,060, a criminal offense security index rating of 41.5 and a satisfaction price of seven.5 out of 10.

Leeds and Newport had been additionally among the many most beneficial places.

Of course, regardless of the advantages of low crime, minimal site visitors and excessive life satisfaction, for many first-time consumers the choice on the place to place down roots usually comes all the way down to a query of value.

A spokesperson for the Co-operative Bank mentioned: ‘Typically, you may want to avoid wasting a minimal of 10 per cent of the price of the property you need to purchase.

‘There are Government schemes accessible that will help you do that, just like the Lifetime Isa which helps you to earn as much as £1,000 additional a 12 months by way of a 25 per cent Government bonus.

‘You’ll additionally want to determine how a lot you’ll be able to afford to spend and create a finances.

‘Finally, first time consumers particularly may gain advantage from utilizing a dealer. They will help you discover one of the best mortgage to fit your wants, and clarify how the market works.’