Milton Keynes rated as first-time buyer hot spot
While Brexit is unlikely to have a dramatic long-term effect on the property market, the general uncertainty in the wider economy could result in a short-term softening of house prices, providing ideal conditions for first-time buyers to get on the ladder.
But with mortgages still requiring high deposits, those wanting to take advantage of current opportunities to buy their first home should look to the places where their money will go the furthest - and one expert says Milton Keynes is the place that beats the rest.
Kevin Shaw, national sales director at property specialist Leaders, says: “House prices have risen in almost all parts of the country over the last year, which is great news for sellers but makes the task of buying for the first time more difficult. First-time buyers should therefore identify towns that offer the best value for money in the wider area.
“In many cases, towns that are just a few miles apart offer significantly different market conditions, so each buyer should do their homework to work out how far their budget will go in certain areas.”
Kevin has picked out five towns from across the UK that he believes have the most to offer first-time buyers, based on the value they offer in comparison with the wider region and the opportunity they provide to enjoy an affordable lifestyle - and Milton Keynes tops the list.
“Milton Keynes’ population is booming - up by more than 40,000 since 2001 to approximately 260,000 and expected to hit 300,000 by 2026,” Kevin said.
“With almost one in ten homes in the city owned by first-time buyers, its potential has not gone unnoticed. Milton Keynes’ youthful demographic has resulted in a vibrant and ambitious community and plenty of new housing offers ample opportunity to get on the ladder.”
The ramaining places making up the Top 5 spots are Stoke-on-Trent (Staffordshire), Southampton (Hampshire), Wigan (Greater Manchester) and Crawley (West Sussex).