Where in the UK has the highest average first time buyer deposit?
It is of little surprise that first-time buyers in the Greater London area have to save up the highest deposit for their first property with the average deposit sitting at £125,378.
However according to Confused.com’s latest first time buyer report this still represents almost double that of the next highest region.
In the South East, a first-time home buyer should expect to save up around £68,749 to purchase their first property. This is up from £60,953 back in 2021.
East Anglia recorded the third-highest average first-time buyer deposit in the UK at £60,169 in 2022. This was around £5,000 lower the year before at £55,250.
The UK region with the lowest deposit is the North East with first time buyers needing to save £30,198 this is up from £26,769 from the year before.
The research also shows that Kensington and Chelsea recorded the highest first-time buyer house price of £1.2 million in 2023.
Thanet in Kent has seen the largest year-on-year increase in first-time buyer house prices of 8.3% since 2013.
While Elmbridge in Surrey recorded the greatest difference between first-time buyer property prices and overall house prices at 43.9%
