First-time buyers flocking to Slough, according to new study

Slough in Berkshire ranks sixth, with a 5.46% increase. First-time buyer proportions grew from 56.02% in 2020 to 74.58% in 2024.

The average house price in 2020 was  £298,208, which rose to roughly £342,709 in 2024.

Saif Derzi, Founder of Property Buyers Today, commented on the findings, “Slough continues to attract first-time buyers as the local market grows, with house prices remaining within reach compared with London and neighbouring areas.

“Our analysis shows a clear regional pattern in the changing proportion of first-time buyers across the UK. While Scottish and Northern Irish areas have seen notable declines, parts of London and the Southeast are experiencing substantial increases. 

“2023 was particularly challenging for first-time buyers across most regions, which was likely driven by wider economic pressures. Mortgage rates more than doubled to over 6% on average during the year, inflation stayed stubbornly high, and rents rose at their fastest pace on record, all of which left households with less ability to save and borrow for a first home. 

“However, almost everywhere experienced an increase in 2024, which suggests that the market is stabilising as falling inflation and slower house price growth have eased some of the affordability pressures that held buyers back in 2023.”

Top 10 areas with the biggest decrease in first-time buyer proportions 

Rank	Local Authority	Percentage of first-time buyers in 2020	Percentage of first-time buyers in 2024	Percentage difference
1	Clackmannanshire	29.99%	24.55%	-1.68%
2	Fermanagh and Omagh	36.32%	33.66%	-1.25%
3	Aberdeenshire	26.60%	23.62%	-1.14%
4	Aberdeen City	40.10%	37.21%	-1.10%
5	Na h-Eileanan Siar	26.45%	22.68%	-1.06%
6	Newry, Mourne and Down	41.88%	40.62%	-0.94%
7	Moray	28.98%	27.21%	-0.73%
8	Midlothian	35.40%	33.99%	-0.57%
9	Angus	26.02%	25.45%	-0.56%
10	East Renfrewshire	20.77%	20.65%	-0.21%

Clackmannanshire, Scotland, tops the list with a 1.68% decline in first-time buyers in proportion to its total property sales. The percentage of sales going to first-time buyers in the area fell from 29.99% in 2020 to 24.55% in 2024, with the lowest point of 23.35% recorded in 2023. The average house price in 2020 was £140,189, jumping to £175,000 at the end of 2024. 

Fermanagh and Omagh, Northern Ireland, ranks second with a 1.25% decrease. The area saw first-time buyer proportions drop from 36.32% in 2020 to 33.66% in 2024, despite a slight recovery from the 29.55% low seen in 2023. Average house prices here in 2020 were £138,000, increasing to £173,000 in 2024. 

Aberdeenshire, Scotland, places third with a 1.14% decrease over the five-year period. The percentage of sales to first-time buyers fell from 26.60% in 2020 to 23.62% in 2024, with a consistent downward trend throughout the period. In mid-2020, the average house price in Aberdeenshire stood at approximately £177,334. By the end of 2024, that had risen to around £209,000. 

Aberdeen City, Scotland, follows closely with a 1.10% decrease, with first-time buyer proportions declining from 40.10% in 2020 to 37.21% in 2024. The area saw its lowest percentage in 2023 at 32.27% before recovering slightly in the following year. 

Na h-Eileanan Siar, Northern Ireland, completes the top five with a 1.06% decrease. The proportion dropped from 26.45% in 2020 to 22.68% in 2024, showing a similar pattern of decline. 2024 saw the lowest proportion of first-time buyers.  

Newry, Mourne and Down, Northern Ireland, records the sixth largest decrease at 0.94%. First-time buyer proportions fell from 41.88% in 2020 to 40.62% in 2024, after dropping significantly to 32.39% in 2023. 

Moray, Scotland, ranks seventh with a 0.73% decrease. The percentage fell from 28.98% in 2020 to 27.21% in 2024, with the lowest point of 25.87% recorded in 2023. 

Midlothian, Scotland, places eighth with a 0.57% decrease. First-time buyer proportions declined from 35.40% in 2020 to 33.99% in 2024, with a steady downward trend between 2020 and 2023. 

Angus, Scotland, ranks ninth with a 0.56% decrease. The percentage of sales to first-time buyers fell from 26.02% in 2020 to 25.45% in 2024, with a low of 23.02% in 2023. 

East Renfrewshire, Scotland, rounds out the top 10 with a 0.21% decrease. First-time buyer proportions slightly decreased from 20.77% in 2020 to 20.65% in 2024, with fluctuations throughout the period. 

In contrast, several areas have seen significant increases in the proportion of first-time buyers, with London boroughs featuring prominently among those showing the strongest growth. 

Top 5 areas with the largest increase in first-time buyer proportions 

Rank	Local Authority	Percentage of first-time buyers in 2020	Percentage of first-time buyers in 2024	Percentage difference
1	Tower Hamlets	45.02%	75.74%	8.07%
2	Newham	63.49%	94.87%	6.83%
3	Dartford	54.98%	80.15%	6.69%
4	Nuneaton and Bedworth	39.50%	66.54%	6.45%
5	Tewkesbury	28.50%	53.89%	5.67%

Tower Hamlets records the largest increase, with an 8.07% rise. First-time buyer proportions grew from 45.02% in 2020 to 75.74% in 2024, showing a dramatic upward trend, particularly between 2022 and 2024. In January 2020, the average house price in Tower Hamlets stood at £450,669. By December 2024, this had increased to £510,000, marking a rise of about £59,300, or roughly 13%. 

Newham has the second-largest increase at 6.83%. The percentage of sales to first-time buyers rose from 63.49% in 2020 to an impressive 94.87% in 2024, making it the area with the highest proportion of first-time buyers in the UK. In January 2020, the average house price in Newham stood at approximately £368,800, rising to about £426,000 in 2024. 

Dartford in Kent ranks third, with a 6.69% increase. First-time buyer proportions increased from 54.98% in 2020 to 80.15% in 2024. From April 2020 to December 2024, the average house price in Dartford rose from approximately £318,700 to £362,300. 

Nuneaton and Bedworth in Warwickshire place fourth, with a 6.45% increase. The percentage rose from 39.50% in 2020 to 66.54% in 2024, showing consistent growth throughout the period. 

Tewkesbury in Gloucestershire completes the top five, with a 5.67% increase. First-time buyer proportions grew from 28.50% in 2020 to 53.89% in 2024, with the strongest growth occurring between 2023 and 2024. 

Saif Derzi, Founder of Property Buyers Today, commented on the findings, “Our analysis shows a clear regional pattern in the changing proportion of first-time buyers across the UK. While Scottish and Northern Irish areas have seen notable declines, parts of London and the Southeast are experiencing substantial increases. 

“2023 was particularly challenging for first-time buyers across most regions, which was likely driven by wider economic pressures. Mortgage rates more than doubled to over 6% on average during the year, inflation stayed stubbornly high, and rents rose at their fastest pace on record, all of which left households with less ability to save and borrow for a first home. 

“However, almost everywhere experienced an increase in 2024, which suggests that the market is stabilising as falling inflation and slower house price growth have eased some of the affordability pressures that held buyers back in 2023.”