The UK's property market is experiencing a subtle shift, with a growing number of young professionals opting for regional cities over London. This trend is driven by the desire for more affordable housing, better career prospects, and a higher quality of life. The top 10 cities for first-time buyers, according to Savills, offer a dynamic jobs market, vibrant neighbourhoods, and a range of amenities. Here's a closer look at each city and why it's an attractive option for young professionals.
Stoke-on-Trent
Stoke-on-Trent is a hidden gem for first-time buyers, boasting the cheapest property prices of the 10 cities listed. The average flat price is £88,448, and the average one-bedroom flat monthly rent is £664. The city's proximity to universities and its well-connected location make it an ideal base for young professionals. Stoke-on-Trent offers a balance of affordability and accessibility, with easy access to green spaces and the Peak District.
Hull
Hull is another attractive option, offering a great opportunity for first-time buyers to get on the property ladder earlier than in other cities. The average flat price is £91,815, and the average one-bedroom flat monthly rent is £670. The city's central areas, such as Victoria Dock and Humber Street, are popular among young tenants, while first-time buyers often shift to the well-established neighbourhoods of the Dukeries and Kingswood for amenities and more green space.
Derby
Derby is the industrial hub of the East Midlands, offering a range of career opportunities and a vibrant city life. The average flat price is £111,529, and the average one-bedroom flat monthly rent is £770. The city's compact city centre, with independent bars and shops, is a popular choice for young professionals. Derby is also well-connected, with easy access to London and other major cities.
Milton Keynes
Milton Keynes is Britain's biggest purpose-built new town, offering a unique blend of urban and rural living. The average flat price is £177,694, and the average one-bedroom flat monthly rent is £1,280. The city's well-connected location, with easy access to London, Oxford, and Cambridge, makes it an attractive option for young professionals. Milton Keynes also has a thriving jobs market, with several big companies based there.
Liverpool
Liverpool is a Unesco City of Music, offering a vibrant cultural scene and a range of career opportunities. The average flat price is £160,286, and the average one-bedroom flat monthly rent is £841. The city's central areas, such as Castle Street and the Cavern Club, are popular among young professionals. Liverpool is also cheaper than neighbouring Manchester, making it an attractive option for first-time buyers.
Plymouth
Plymouth is a historic naval city, offering a range of career opportunities in the defence and aerospace sectors. The average flat price is £152,286, and the average one-bedroom flat monthly rent is £805. The city's vibrant neighbourhoods, such as Peverell and St Jude's, are popular among young professionals. Plymouth also offers a range of outdoor activities, with the countryside of Devon and Cornwall on the doorstep.
Southampton
Southampton is one of the UK's greenest cities, offering a range of sporting events and cultural attractions. The average flat price is £170,211, and the average one-bedroom flat monthly rent is £914. The city's central areas, such as Ocean Village and Shirley, are popular among young professionals. Southampton also has a thriving jobs market, with several big companies based there.
Cardiff
Cardiff is a vibrant city, offering a range of career opportunities and a thriving cultural scene. The average flat price is £174,944, and the average one-bedroom flat monthly rent is £1,030. The city's central areas, such as Canton, are popular among young professionals. Cardiff also has a strong international culture and sporting scene, making it an attractive option for young professionals.
Glasgow
Glasgow is a vibrant city, offering a range of career opportunities and a thriving cultural scene. The average flat price is £195,800, and the average one-bedroom flat monthly rent is £1,006. The city's central areas, such as Dennistoun, are popular among young professionals. Glasgow also has a strong financial and professional services sector, making it an attractive option for young professionals.
Norwich
Norwich is a rapidly growing city, offering a range of career opportunities in the science and arts sectors. The average flat price is £159,671, and the average one-bedroom flat monthly rent is £890. The city's central areas, such as Constitution Hill and St Clements Hill, are popular among young professionals. Norwich also has a thriving jobs market, with several big companies based there.
