Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

First-Time Buyer Asking Prices Surge in Affordable Northern Towns

First-time buyer asking prices have jumped by up to 18% in some of the UK’s most affordable towns, according to analysis reported by Mortgage Solutions. The fastest rises have been recorded in Northern and Scottish towns, while higher-priced Southern markets have seen prices ease.

Bridlington in East Riding of Yorkshire and St Helens in Merseyside have seen average asking prices for first homes rise by 18% compared to last year, reaching £167,321 and £133,106 respectively. Falkirk in Stirlingshire experienced a 17% increase, with average prices now at £118,327. Hartlepool’s first-time buyer homes are being advertised for just over £104,000 on average, a 12% year-on-year increase.

All of the fastest-growing areas for first-time buyer prices remain below £170,000, highlighting continued demand for affordable homes, particularly in the North and Scotland. Other notable increases include Dewsbury in West Yorkshire (12%), Greenock in Inverclyde (11%), and Inverness in Inverness-Shire (11%).

In contrast, several higher-priced Southern markets, such as Brighton and Southampton, have seen first-time buyer prices ease compared to last year. The average asking price for a typical first-time buyer home in Great Britain is now £228,048, which is down 0.7% year-on-year.

St Albans in Hertfordshire is currently the most expensive area to buy a typical first-time buyer home (0-2 bedroom), at £401,352. Middlesbrough is the least expensive, with an average price of £90,929.

For letting agents and inventory clerks, these trends indicate shifting demand towards more affordable regions, with increased competition for homes in Northern and Scottish towns. This may impact rental demand and property turnover in these areas.