150+ UK first-time buyer statistics 2023

According to the latest UK first-time buyer statistics, there were approximately 852,000 recent first-time buyer mortgages in 2021-22. This represents a decline of around 100,000 from the previous year.

Our research collates the most recent first-time buyer statistics for 2023, as well as our own unique data, to include information on the average value of first-time buyers’ homes, average deposits paid, and demographic breakdowns such as age, region, and salary. By analysing past and present trends, we have outlined how the market has evolved, and suggest what the future has in store for first-time buyers in the UK.

Top 10 UK first-time buyer statistics 2023

• In 2021-22, there were 852,000 recent first-time buyers in England (around 100,000 fewer than in 2020-21). 

• As of 2021-22, the average age for a first-time buyer in England was 34.  

• In the same year, almost two in five (38%) first-time buyers were couples without dependents, with less than a third (29%) as one-person households.  

• During 2021-22, the mean average deposit for first-time buyers in England was £43,693 (with a median of £30,000). 

• Just under two-thirds (63%) of first-time buyers in 2021-22 were in the top two income quintiles (income quintiles are five equally sized groups divided by earnings). 

• 94% of individuals who requested a mortgage quote for the first time in 2021-23 were in full-time employment. 

• Over half (58%) of first-time buyer mortgage quotes between 2021-23 were to those who identified as male. 

• In 2021-23, almost two in five (39%) females sought a first-time buyer mortgage quote, with an average loan amount of just over £179,000. 

• According to our mortgage quote data, more than two-thirds (68%) of first-time buyers between 2021-23 intend to buy a house. 

• By contrast, less than a third (29.08%) of first-time buyer quotes were for flats (2021-23).

UK first-time buyer market statistics 2023

The latest UK first-time buyer statistics show a general upward trend throughout the last decade. As of 2021-22, there were 852,000 first-time buyers in England alone. This, however, represented a significant drop from the peak of 957,000 a year earlier (11%).  

Despite the recent decline, the overall numbers for 2021-22 represent a rise of 17% from the three previous years and an increase of 27% over the last five years.

What is a recent first-time buyer?

A recent first-time buyer is defined as anyone who has bought a house for the first time in the last three years and has not previously owned a property. 

The total number of UK first-time buyers by year

The recent decline in first-time buyers was less pronounced in London than in other parts of the UK. Though the capital’s latest figures represented a decline of around 6% from its peak of 155,000 in 2020-21, this is substantially less than the rest of the country which saw figures fall from 803,000 to 706,000 (-12%) in 2021-22. 

A breakdown of the total number of recent first-time buyers in England by year

London also experienced a substantially higher five-year increase in recent first-time buyers compared to the rest of the UK, with a rise from 106,000 to 142,000 (+36%) between 2016-17 and 2021-22. 

Statistics for the average first-time buyer age UK

The latest first-time buyers statistics show that people aged between 25-34 make up the largest portion of the market. With around 438,000 first-time buyers in this age category, 25-34-year-olds are responsible for more than half (51%) of first-time home purchases in England. 

Despite this, the overall market percentage for 25-34-year-olds has actually fallen from the previous year, when it accounted for 62% of the total market (601,000 buyers).

A breakdown of English first-time buyer statistics by age group in 2021-22

Those aged 35-44 are the next most prominent age group for first-time buyers, with total purchases of 255,000 – accounting for 30% of the market. This represents a sharp rise from the previous year, when this age group was responsible for just over a fifth (21%) of overall first-time buyer sales. 

Despite the overall decline in first-time buyers from the previous year, 35-44-year-olds were found to have bought 52,000 more homes in 2021-22 than they did in 2020-21. This suggests that this age group may become an even more prominent part of the market in the coming years. 

16-24-year-olds recorded the third-highest figures in 2021-22, with their total of 77,000 sales making up 9% of overall purchases. While this age group’s market share has remained largely unchanged, its total purchases saw a decline of around 8,000 from the previous year.

Despite having the lowest volume of first-time buyer purchases, those aged 45 and over now make up nearly 10% of the overall figure – 3% more than in 2020-21.

Which age group makes up the highest percentage of UK first-time homeowners?

                                                     25-34-year-olds (51%)

A breakdown of the average age of English first-time buyers by year

First-time buyer statistics show that the average age of a first-time buyer in England has increased over the last year. After a decade of fluctuations between 32 and 33, the average age increased by more than a year between 2021-22. The most recent figure of 33.5 is 1.3 years higher than two years earlier, suggesting rising house prices have affected the age at which many people can afford to buy their first home. 

The age increases are even more pronounced when discounting London. Figures for 2021-22 found that the average age for a first-time buyer outside of London was 34.4. This represents a rise of more than two years from 2020-21, and over 3.5 years since 2019-20.

Contrastingly, the average first-time buyer age in London has been on a downward trend in recent years. Following a decade-high average age of 36.7 in 2018-19, the average age fell to 33.8 in 2020-21 and remained unchanged in 2021-22. 

What is the average age to buy a house in the UK as a first-time buyer?

                                                                        34

UK first-time buyer statistics by employment status

Our data on first-time homebuyers reveals that almost 94% of individuals who have requested a mortgage quote for the first time in 2021-23 are employed on a full-time basis. Typically, they request an average mortgage loan amount of £191,848.

A breakdown of average mortgage for first-time buyers in the UK by type of employment

(Source: Uswitch) 

In contrast, only 6% of those working part-time sought a mortgage quote between 2021-23. Their average loan amount was over £16,000 less than their full-time counterparts, averaging at just over £175,000. 

UK first-time buyer statistics by salary

The latest first-time buyer stats show that those in the lowest income band made up the lowest proportion of first-time buyers in 2021-22, with just 4.5% (39,000) of the overall total found to be in this demographic.

A breakdown of the number of first-time buyers in England by income band 2021-22

(Source: gov.uk)

The quantity of first-time buyers increases with each income band, before peaking at the second-highest band (fourth quintile). With 295,000 first-time buyers, this income band made up nearly a third (32%) of the overall total.

Though the highest income band (fifth quintile) posted lower figures than the previous one (fourth quintile), its total of 239,000 first-time buyers was the second highest overall. 

UK first-time buyer statistics by gender 

A breakdown of UK average mortgage for first-time buyers by gender

(Source: Uswitch) 

Our data shows that between 2021-23, more than half (57.65%) of first-time buyer mortgage quotes were for male. On average, their typical loan amount was £196,049. 

By contrast, almost two in five (38.87%) quotes were for females, with an average loan amount of just over £179,040 (some £17,000 less on average than their male counterparts). 

UK first-time buyer statistics by mortgage type

First-time buyer stats show an almost even split between sole and couple first-time buyers in England. Of the 852,000 first-time buyers in 2021-22, 422,000 homes (49.5%) were in the household reference person’s (HRP) name only, while 401,000 (47.1%) were found to be in the name of both the HRP and their partner. 

A breakdown of the percentage of first-time buyers in England by mortgage type in 2021-22

Browse our mortgage guides for expert advice on a range of topics relating to homeownership.

UK first-time buyer statistics by deposit income source

The latest first-time buyer report from the UK government shows that the vast majority of first-time buyers (85%) relied on savings as the primary source of their deposits. 

While the overall figure of 704,000 made savings by far the most common deposit source, this represents a substantial decline from the previous year, when around 855,000 (91%) first-time buyers saved for a deposit

A breakdown of the number of first-time buyers in England by deposit income source in 2021-22

Over a quarter (27%) of first-time buyers received their deposit as a gift or loan from a friend or family member, making this the second most common source of first-time buyer deposits in 2021-22. Despite an overall decline in first-time buyer mortgage deals in recent years, the number of people purchasing the home with a gifted deposit increased by around 5,000.

Similarly, the number of people relying on inheritance to fund their deposits increased from 57,000 to 68,000 in the latest figures.

What is the average deposit for first-time buyers in England?

£43,693

UK first-time buyer statistics by family type 

Couples with no dependent children are the most common type of first-time buyers in England. With 320,000 first-time buyer sales, this group accounted for more than a third (38%) of the total purchases in 2021-22.

A breakdown of the UK first-time buyer statistics by household type in 2021-22

(Source: gov.uk) 

Lone parents with dependent children were the least likely household type among first-time buyers. Accounting for just 3% of the overall figures, the total purchases of lone parents were around 26,000 – 92% less than the most common household type.

A breakdown of UK first-time buyer statistics by household type 

According to first-time buyer statistics, almost two in five (39%) of all UK properties sold between 2021-22 were to first-time buyers, equating to more than six million sales. 

The majority of UK property sales to first-time buyers were to households with no dependent children, at just over 2.1 million. This means around a third (34%) of all properties sold between 2021-22 were to all first-time buyers with no dependents. This accounted for more than one in three (35%) of all first-time buyers.

The next most popular type of first-time buyer to purchase a property in 2021-22 was single-person households. Just over two million were sold that year to this demographic, representing 44% of all properties sold to one-person households in 2021-22, and around a third (34%) of all first-time buyers. 

Almost 1.3 million properties were sold to first-time buyers consisting of couples with dependent children in 2021-22. However, the least popular property sales for first-time buyers were to lone parents with a dependent (195,000), and other multi-person households (372,000).  

UK first-time buyer statistics by property type

Our data shows that between 2021-23, more than two-thirds (68.46%) of first-time buyer mortgage quotes were for those intending to buy a house. This came with an average loan amount of £189,285. 

A breakdown of the UK average mortgage for first-time buyers by type of property

(Source: Uswitch) 

By contrast, less than a third (29.08%) of quotes between 2021-23 were for flats, with an average loan amount of £194,349 (around £5,000 more than the typical UK first-time buyer purchasing a house). 

Maisonettes formed just 2% of total quotes between 2021-23, yet generated an average loan amount of £205,113 for UK first-time buyers. 

UK first-time buyer statistics by region

Statistics on the UK average first-time buyer price show that those in London continued to pay more than any other region of the country (£518,900) in 2022. This is around £156,000 more than the average first-time property in the South East, and almost 9% more than those purchasing their first property in London in 2021. 

A regional breakdown of the average UK first-time buyer property price in 2021 and 2022

On average, those in Northern Ireland tend to pay the least for their first property purchase (£171,425), representing an 11% rise from 2021. Similarly, the North East is one of the UK’s most affordable regions for first-time buyers in 2022, with the typical first-time buyer paying £175,000 for a property (+16.7% on 2021 figures).  

While these figures are the most recent available, it’s worth noting that future results are likely to show considerably higher average price rises in the wake of rising house costs and the cost of living crisis. 

A regional breakdown of average mortgage for first-time buyers in the UK 2021-22

As of 2022, the UK average mortgage for first-time buyers was £239,540 (almost 14% more than in 2021). 

Greater London had the highest average mortgage in 2022 when it came to those purchasing their first property. At £393,522, this was almost £100,000 more than the next highest region (South East), and 9% higher than a typical first-time buyer in the capital 12 months earlier. 

Between 2021 and 2022, those in the North East of England saw the greatest increase in the average mortgage for first-time buyers across the UK (+15.9% year-on-year). At £144,893, this was the second-lowest figure for the UK as a whole, with the typical first-time buyer mortgage in Northern Ireland sitting at £138,226 for 2022. This also represented the lowest year-on-year growth for UK average first-time buyer mortgages between 2021 and 2022 (+8.5%). 

A breakdown of average mortgage for first-time buyers by UK city

Source: Uswitch) 

Our data shows that the majority of first-time buyers are searching for property in London (11.39% of total quotes) – more than double the amount for Manchester, in second place. By contrast, the average loan amount for first-time buyers in the capital between 2021-23 was £320,858. This was almost double the average for those looking to buy in Manchester for the first time. 

Bradford was the most affordable UK city, based on the average loan amount for first-time buyer mortgage deals, at £109,020. This was followed very closely by Newcastle (£110,297), which was the third most popular city for first-time buyer quotes between 2021-23 (2.61%).  

What are the most affordable places for first-time buyers to buy their home? (exclusive data) 

Our exclusive data on affordability for first-time buyers by local authority compared the median house price of each UK local authority against the median salary. Scotland dominated the 10 most affordable places for first-time buyers, with 70% of local authorities based here. 

A breakdown of the most affordable local authorities for first-time buyers in Great Britain

With a median house price of 2.73 times higher than the median salary, East Ayrshire was found to be the most affordable place for first-time buyers in Great Britain. This figure was around 9% lower than Copeland in second, and 89% lower than Kensington and Chelsea, which was found to be the least affordable place for first-time buyers.

Each of the five most affordable places recorded annual reductions in the disparity between house price and salary between 2020 and 2021, with nobody in the top 10 recording an increase of more than 0.06. Fourth-placed Inverclyde recorded the highest reduction of our top 10 local authorities, with its reduction of 0.1 taking the overall ratio down to 3.23.

The three non-Scottish places in the top 10 were Copeland, Burnley, and Blaenau Gwent, which finished second, eighth, and tenth, respectively. With a house price-to-salary ratio of 2.99, Copeland was the only place alongside East Ayrshire to record a ratio below three.

A breakdown of the least affordable local authorities for first-time buyers in Great Britain

London dominates the list of least affordable places for first-time buyers, with nine of the top 10 all based in the capital.

With a median house price nearly 25 times higher than the median salary, Kensington and Chelsea was found to be the least affordable local authority for first-time buyers in Great Britain. The borough’s ratio was more than 20% higher than second-placed Westminster, where the median house price was found to be 19.56 times higher than the median salary.

Mole Valley, based in Surrey, was the only non-London local authority in our top 10, finishing in eighth place with a house price-to-salary ratio of 16.04. Mole Valley was also the local authority in the top 10 that saw its disparity between house price and salary rise the most between 2020 and 2021 (+0.66). Conversely, Islington’s annual increase of 0.28 represented the lowest increase in the top 10.

Which university towns are the most affordable for their students? (exclusive data) 

Our exclusive first-time buyer statistics found that Scottish universities offered the most affordable conditions for first-time buyers, with the four highest-scoring universities in our study all being based in Scotland. 

With an estimated average graduate salary of around £28,000 and an average city house price of £200,202, Glasgow’s University of Strathclyde was found to be the most financially viable university for first-time buyers. 

A breakdown of the 10 most affordable university cities/towns in Great Britain for first-time buyers based on salary, house price, and employment

(Source: Uswitch via Higher Education Statistics Agency)

With an index score of 8.89 out of 10, the average Strathclyde graduate will need around 7.2 years to save for a deposit if they save 10% of their yearly salary, and 3.6 years if they save 20%. The University of Strathclyde was one of three Glasgow-based universities in the top 10, with Glasgow Caledonian University and The University of Glasgow finishing third and ninth, respectively. 

Aberdeen’s Robert Gordon University received the second-highest score in our study (8.71). Despite having lower average house prices (£187,370 within university city) and shorter deposit savings rates than Strathclyde (6.77 years with 10% of salary savings), Robert Gordon graduates were found to have a lower average salary (£27,668) and were less likely to be in full-time employment (61.5%) than residents of the Glasgow University. 

Aside from Scotland, the highest-scoring English universities were found in Cumbria and the North East, with Carlisle’s University of Cumbria, Newcastle University, and Middlesbrough’s Teesside University finishing fifth, seventh, and eighth respectively. With an average house value of just over £143,000 within the university city and around £165,000 in a student’s non-term time address, Teesside's 10-year deposit saving rate of 5.86 years was the shortest of any university in the study, with The University of Cumbria’s rate of 6.17 years the second-shortest. 

There were no universities from the south of England or Wales in our top 10, with Stoke-on-Trent’s Staffordshire University (sixth place) and Yorkshire’s Sheffield Hallam University (tenth place) being the remaining two English universities on the list. Despite having city house prices more than 12% higher than Glasgow, and 37% higher than Middlesbrough, Sheffield Hallam’s full-time employment rate of 67.5% was the highest of any university in our top 10.

A breakdown of the 10 least affordable university cities/towns in Great Britain for first-time buyers based on salary, house price and employment

Our exclusive first-time buyer survey found that around two in five (40%) of non-homeowners in the UK do not intend to buy a home within the next five years. Of these, more than half (53%) referenced affordability as the primary reason for not buying a home, with a further quarter (26%) citing the recession.

The number of people intending to buy a home was far higher amongst those aged between 25-34, with only around 25% of respondents in this age group claiming they do not intend to buy a home within the next year.

Almost half (49%) of the people interviewed claimed that house prices would need to fall between 11%-20% before they’d consider buying a home, with a further 13% claiming prices would need to drop more than 20%.

Around 25% of respondents predicted that their budget for buying a home would be £150,000 or less. This figure is almost 50% lower than the October 2022 average UK house price of £295,000. More than half (57%) believed their budget would be no higher than £300,000.

UK first-time buyers deposit statistics 

According to UK house price statistics, the average first-time buyer house price increased by 10% in the year to December 2022, to around £294,000. 

Based on an average rate of saving from an average UK income between July and September 2022, it now takes 18 years for a typical UK first-time buyer to save enough money for a house deposit. This is also assuming a standard, instant-access savings account. If the first-time buyer were to transfer their money to a cash ISA with the same rate, the amount of time required to save would drop to 17 years. 

According to the most recent UK Finance report from December 2019, the mortgage size as a percentage of property value stood at 77% for first-time buyers, nearly 68% for homemovers, and almost 59% for remortgagers. UK Finance suggests a typical deposit for a UK first-time property purchase in 2019 was less than a quarter (23%) of the purchase cost, averaging at just under £54,000. 

As of December 2022, this figure has risen to an average of £56,570 and equates to around 170% of the average UK salary.

Compare mortgage rates to ensure you get the best deal whether you're a first-time buyer, a homemover, or remortgaging your current home.

A breakdown of the average deposits for UK first-time buyers in 2021 and 2022

Based on the average deposit for first-time buyers statistics from 2022, the average amount people paid for a first-time house deposit was £62,470 – down almost £8,500 more on average compared to 2021. 

Admittedly, Greater London skews this average somewhat, with an average first-time buyer deposit of £125,378 in 2022 – around £10,000 more compared to the previous year. These figures represent around double the average deposit paid by first-time buyers in the South East, the next most expensive region. 

In Scotland, the average first-time buyer deposit in 2022 cost around £41,500, almost £3,500 higher than its 2021 data. Conversely, first-time buyers in Wales parted with an average of £36,825 for their deposits compared to virtually £33,200 for those in Northern Ireland. 

First-time buyers in the North East had the smallest average deposit in 2022, at £30,198 – almost four times less than the average deposit for first-time buyers in London.