Overview
- Zoopla’s April 2026 data shows the average first-time buyer paid £254,750, a 4.3% rise year‑on‑year that equates to about £10,000 more, and the number of first-time buyers fell by roughly 6%.
- Outside London, three‑bed houses now make up about 53% of first-time buyer enquiries, up from 41% in 2017, a shift that accelerated during the 2020–22 pandemic and has largely persisted.
- Mortgage costs have risen again after a late‑February Middle East conflict and an oil‑price spike raised inflation expectations, prompting lenders to increase fixed‑rate deals and ending hopes of near‑term Bank of England cuts.
- Industry leaders point to structural barriers: the average first‑time buyer is now 34 in England and heavy student loan repayments reduce the income lenders count for mortgage tests, which Barratt Redrow’s chief executive says makes this the toughest period for new buyers since 2008.
- The practical effects include higher loan sizes and monthly payments for those who buy, growing calls for a targeted government support package, and a risk that fewer first‑time buyers will push more households into long‑term renting and deepen regional affordability gaps.