Knowsley among UK’s top rising neighbourhoods for first-time buyers

Using data from 2013 to 2023, the bank has analysed which neighbourhoods have had the largest increase in the number of first-time buyer (FTB) purchases over that time and which have had the biggest drops.

Overall, London has become less popular, with the number of first-time purchases dropping nearly 80% in the past ten years.

Merseyside borough among UK’s top rising areas for first-time buyers

Knowsley features in the list with its 2013 rank (30) being compared with its 2023 rank (25). This meant the Merseyside village increased by five rankings.

@countryhouseobsession Today I had one of the best country house visits ever, I have wanted to visit the incredible Knowsley Hall since I can remember and it didn’t disappoint. I can’t thank Curator Dr Stephen Lloyd enough, for taking time out of his day to take me on a comprehensive and all access area tour, of this magnificent house. #knowsleyhall #hall  #house #mansion #countryhouse #countryhouses #statelyhome #statelyhomes #statelyhomesofengland #historichomes #historichouse #historichouses #history #knowsleyhall ♬ Zadok the Priest – Westminster Abbey Choir & London Brass & Martin Neary & Iain Simcock & Martin Baker

The average neighbourhood property price in Knowsley is £186,536, according to Santander’s data.

Santander also found that FTBs are increasingly compromising on location to fulfil their dream of owning a home with two-thirds (67%) moving to an area they had never been to before, compared to just over half (51%) of those who bought more than five years ago.

This is due to a lack of suitable properties and affordability constraints with those who made the move saving an average of £29,000 compared to buying in the neighbourhood they previously lived in.

Tips for first-time buyers

This is more true in London than any other region, with 63% moving away from the capital.

Elmbridge, Tower Hamlets and Teignbridge saw the biggest drop in first-time buyers moving into the neighbourhood.

Recommended reading:

Graham Sellar, head of mortgage development at Santander, said: “Our latest data shows that first-time buyers are increasingly looking to purchase in neighbourhoods where they previously might not have considered – or even heard of.

“Those neighbourhoods which have seen the largest drop in FTB purchases, such as Teignbridge, also tell a story, as it becomes clear that location has become the number one compromise for many looking for their first home.

“As first-time buyers explore these alternative neighbourhoods, we want to reassure our customers that Santander are here to support them achieve the exciting milestone of purchasing their first home, wherever it may be.”