It’s no secret that getting on the property ladder is tough, but new research shows just how far people are willing to move to buy their first home.

Forget about living close to your family and friends – first-time buyers are increasingly looking further afield to find affordable properties. Over the last decade, some areas have become hotspots for new buyers, while others have seen a decline in popularity.

So, where are first-time buyers choosing to put down roots? 🌳

Santander looked at property data from the last ten years (2013-2023) and found that Waverley in the South East and Waltham Forest in Greater London have seen the biggest surge in first-time buyer purchases. This trend reflects the fact that one in four Londoners (26%) are leaving the capital altogether to get a foot on the property ladder.

Here’s a breakdown of the top rising neighbourhoods for first-time buyers in each region:

Region	Top Rising Neighbourhood	Average Property Price (£)
South East	Waverley	385,150
London	Waltham Forest	447,678
East Midlands	Bassetlaw	171,000
East of England	Harlow	291,294
North West	Knowsley	186,536
Scotland	East Lothian	213,111
West Midlands	Stoke-on-Trent	147,028
South West	City of Plymouth	191,309
Wales	Newport	200,847
North East	Middlesbrough	141,291
Yorkshire and The Humber	Rotherham	152,634

Why the shift?

It all comes down to affordability. Many first-time buyers simply can’t afford to live in the areas they grew up in. In fact, Santander found that a lack of suitable properties and sky-high prices are the main reasons people are moving to new neighbourhoods.

And it seems to be paying off – those who ventured further afield saved an average of £29,000 on their first home compared to those who stayed put.

London Losing its Appeal?

While some areas are booming, others are experiencing a decline in first-time buyer interest. London, in particular, has seen a dramatic drop in popularity, with the number of first-time purchases plummeting by almost 80% in the last decade.

Here are the neighbourhoods that have become less popular with first-time buyers:

Region	Neighbourhood	Average Property Price (£)
South East	Elmbridge	470,742
South West	Teignbridge	257,498
London	Tower Hamlets	474,332

So, what does this mean for you?

If you’re a first-time buyer, it’s clear that you need to be open to exploring new areas. Don’t be afraid to look beyond your immediate surroundings – you might just be surprised at what you can afford.

And remember, while location is important, it’s not the only factor to consider. Make sure you weigh up all your options and choose a home that’s right for you, even if it means venturing a little further from home.