Dreaming of putting down roots and buying a new home? You should include Bath, Aberdeen and Chester in your search, according to new research.
But London and Edinburgh should be off the menu according to the website MoneySupermarket – which has ranked the best and worst UK cities for first-time buyers as part of an annual report.
The price comparison site ranked 35 cities against six criteria – looking at job opportunities, average salary, disposable income, rate of contents theft and the average cost of a one-bedroom property.
Oxford has dropped out of the top five since last year due to an increase in reported thefts – while Chester has risen to third place, thanks to an increase in its job opportunities.
The Top 5 Cities For First-Time Buyers
Bath has secured the top spot, securing the highest score for jobs per capita (13.7 per 100) and top scores for disposable income.
Wolverhampton, meanwhile, has been ranked in second place thanks to a rise in disposable incomes and average salaries.
In third place is Chester, thanks to a drop in the contents theft rate compared to last year, combined with affordable housing. The average cost of a one-bedroom property now sits at £106,050 – below the national average of £131,830.
Ranked fourth place is Aberdeen, which has a relatively low contents theft rate, higher than average disposable income, and relatively low property prices – with a one-bedroom property costing an average of £93,600.
Derby, meanwhile, comes in fifth place. While MoneySupermarket says it has the “highest rate of contents theft amongst the top five locations,” it secures a top spot because it also has low property prices meaning people who live there can enjoy a relatively high disposable income.
The Bottom 5 Cities For First-Time Buyers
Despite good earning potential and high disposable income, London has been ranked bottom for the second year in a row. The average price for a one-bedroom property is £486,924 – a whopping £355,094 above the national average.
Dropping six places, Birmingham fell into the bottom five due to a decrease in average annual salaries and disposable income across the city.
Sheffield also made the bottom five because of relatively few job opportunities, which place it “significantly behind” other Midlands and Yorkshire cities.
Leicester was ranked as one of the worst cities for first-time buyers as a result of a drop in people’s average annual salary and an increase in the average cost of a one bedroom property rising from £101,554 to £109,420.
Edinburgh was also ranked by MoneySupermarket as one of the least attractive cities for first-time buyers, as a result of “one of the highest rates of contents theft (26.4 per capita)”. This, despite the Scottish city topping another recent survey for green living.
“As well as looking at house prices in your area of choice, measures such as crime rates and local job opportunities can help inform your decision and ensure you’re in the location best suited to you,“ said Rachel Wait, consumer affairs spokesperson at MoneySupermarket.