For the first time, the Office for National Statistics has released first-time buyer data to a local authority level. The data gives insight into how the pattern of demand has changed over the last decade to 2023 (their latest data).
A decade ago, the average across UK local authorities was 8.8 first-time buyers per 1,000 dwellings. This reached a peak in 2021 (13.1), before falling back to 9.1 in 2023 as affordability issues came to the fore.
Locations with higher proportions of first-time buyers are more affordable and have higher new build supply (parts of East London are a good case in point). In 2013, seven of the top 10 locations were boroughs and local authorities which make up the London primary urban area. By 2023, only two London boroughs were top of the list.
The top-ranked areas in 2023 were more affordable and notably areas on the edge of key cities. Source: Dataloft by PriceHubble, ONS