Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
West Oxfordshire Leads First-Time Buyer Demand
New analysis from Rightmove reveals that West Oxfordshire has seen the largest increase in demand for first-time buyer properties across the UK, with a 45% year-on-year rise. This comes as national first-time buyer demand fell by 4% in April compared to the same month last year.
According to Rightmove, the surge in West Oxfordshire is supported by a 37% increase in available first-time buyer type homes for sale and flat house prices. First-time buyer properties are defined as homes with 0-2 bedrooms, typically used as a first step onto the property ladder.
East Staffordshire and Bracknell Forest follow West Oxfordshire, with demand up by 31% and 28% respectively. The data also shows that in 21 out of the top 25 hotspots, the number of available first-time buyer properties for sale has increased year-on-year, averaging a 14% rise. This outpaces the national trend, where supply is up by 4%.
Affordability remains a key factor, with 17 of the top 25 areas having average asking prices below the national average for a first-time buyer property, which is currently £228,048. The average first-time buyer monthly mortgage payment is now £998, up from £904 in February.
The analysis highlights that first-time buyer demand is holding up better than the wider market, despite higher mortgage rates. Data from UK Finance indicates that first-time buyers now make up around 55% of home purchases, compared to 39% fifteen years ago.
For letting agents and inventory clerks, these trends suggest increased activity in regions like West Oxfordshire, East Staffordshire, and Bracknell Forest, where improved stock levels and stable pricing are attracting more first-time buyers. The rise in available starter homes is also giving buyers more confidence and negotiating power compared to previous years.
Source: Mortgage Strategy