A new study from the UK’s leading property portal, Rightmove, has revealed a dramatic increase in cities across the UK from first time buyers, whilst at the same time interest in coastal locations has remained steady. Carried out during January to May 2025, the report compared these dates to the same period in 2015, covering 50 of the largest cities in the UK.
Liverpool was one of the leading UK cities, placing 4th out of 50 cities with a growth of 73% over the last ten years and was only surpassed by growth in three other UK cities Dundee, Edinburgh and Doncaster. Here at City Residential we have witnessed this increase in demand from first time buyers for apartments in Liverpool City Centre especially noting the interest in living here from first time buyers who already live on coastal and suburban locations. Interest in the city has grown substantially with buyers from areas such as Crosby and Formby to the north, Allerton and Aigburth to the south and across the water in The Wirral choosing the city for their first home. The figures would look even stronger if it wasn’t for the challenges of the Building Safety Act which has restricted the number of developments in the city where first time buyers are able to obtain mortgages.
“We’ve seen a number of changes to the property market over the last ten years. Perhaps most notably is during the pandemic, when many people temporarily left cities and looked to the coast or countryside,” said Rightmove property expert, Colleen Babcock. “Comparing where we are now versus a decade ago, it looks like there’s even more appeal from potential first-time buyers to live in cities, though the data does show that it can vary quite widely from city to city, and it will also depend how first-time buyer friendly a particular location is in terms of the type of homes that are available for sale,”
Mary Lou-Press, President of NAEA Propertymark, comments, “Coastal locations can offer a slower and more picturesque quality of life, compared to the vibrant, fast-paced atmosphere of many cities. This can be appealing for younger people due to greater economic opportunities, cultural attractions, and diverse amenities.
“It’s likely we will continue to see a shift in first-time buyer activity within city centres as London remains increasingly desirable yet unaffordable for many people stepping onto the property ladder for the first time. This is likely pushing many to enter more affordable cities, and it’s unsurprising that Scottish cities are placed firmly at the top, as these can offer a blend of career opportunities, landmarks, and access to green spaces, all at a lower cost than many other major UK cities.”
London stands apart from this trend, with overall first-time buyer interest dropping by 7% in the last ten years. Higher asking prices are likely a factor in this decline.Both city and coastal areas analysed have seen average price increases of 41% over the same period.
Article based upon news article by the Property Reporter on the 4th July.
