Barratt Homes has analysed the latest data from the Office for National Statistics (ONS), government housing reports, and a survey of 2,000 independent UK homeowners to reveal the best spots.
Analysing newly released data from the Financial Conduct Authority, the housing company pulled out the top 10 local authorities with the largest increase in first-time buyer mortgage applications in the last 10 years.
Two spots in Essex made the list, and here is why.
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According to Barrett Homes’ report, here are the top 10 UK hotspots for first-time buyers, highlighting the spots with the largest increase in first-time buyer mortgage applications in the last 10 years.
The full list of the areas, with their percentage increases, is as follows:
- Harlow (+87%)
- Knowsley (+82%)
- Stratford-on-Avon (+74%)
- Nuneaton and Bedworth (+72%)
- Preston (+70%)
- Braintree (+63%)
- Newport (+61%)
- Dartford (+58%)
- Malvern Hills (+58%)
- Winchester (+57%)
- Broadland (+55%)
Harlow, in Essex, saw the largest increase, with an 87% increase in first-time buyer mortgage applications in the last 10 years.
In the last 10 years, data from Barrett Homes also revealed that the East of England as a whole had 526,000 first-time mortgage applications.
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Why these Essex areas are among UK’s best for first-time buyers
Both the Braintree and Harlow areas made the list of the first-time buyer hotspots across the UK.
Aside from the house prices, looking at both the towns and their wider areas, you can get an idea of why these areas are popular with first-time buyers.
Visit Essex says the town is a “wonderful, vibrant town with great art and culture to delve deep into, as well as some lovely sports and green spaces for locals and visitors to enjoy”.
As it also explains, Harlow is located close to London, Stansted Airport, and Cambridge, and has great links for both rail and road.
From great pubs to a bustling town centre, Harlow is a great place on the edge of the county.
Braintree, on the other hand, is a district that has plenty more picturesque and rural spots.
There is a popular designer shopping village, a historic Norman Keep, as well as steam railways and magnificent houses with stunning gardens.
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Highlighting other great things to do in the Braintree area, the website adds: “Take a drive in the country through idyllic villages and beautiful scenery, stop for a hearty lunch at a traditional pub and sample the local ales or for the more active, follow one of our many delightful trails, whether you like to stroll or cycle.
“Marvel at historic houses and gardens, or the landscaped woodland walks and footpaths of Markshall Estate, with its ever-changing colours reflecting the seasons.
“For heritage enthusiasts, why not pay a visit to the magnificent medieval barns of Cressing Temple or enjoy thrilling displays by jousting knights at Hedingham Castle.”
