Bridlington a first-time buyer hotspot, Rightmove says

Average asking prices have increased by 18 per cent annually in Bridlington, according to analysis by Rightmove.

The property website, which looked across Britain but excluded London from the analysis, found that Bridlington and St Helens in Merseyside led the way as first-time buyer price hotspots.

In Bridlington the average asking price for a typical first-time buyer home was £167,321, while the figure stood at £133,106 in St Helens.

First-time buyer homes were defined in the research as those with two bedrooms at the most, including houses and flats.

Rightmove said the fastest-growing areas for asking prices on its list had average prices below £170,000, highlighting continued demand for more affordable homes.

In contrast, several higher-priced southern markets, including Brighton and Southampton, are seeing average first-time buyer prices ease compared with last year, it said.

Recommended reading:

Rightmove said that the average asking price across the research for a typical first-time buyer home is £228,048, down by 0.7 per cent annually.

Colleen Babcock, a property expert at Rightmove, said: “Affordability continues to shape where first-time buyers are looking, and we’re seeing the strongest price growth in areas where homes remain within reach for more people.

“Lower-cost locations are still seeing strong interest, with competition for homes helping to hold prices up.

“In more expensive markets, tenants are taking a bit more time and thinking more carefully about what they can afford, which is keeping growth relatively flat.”