Yorkshire town named top first-time buyer hotspot

Posted: 14 Sep 2006 12:37:58 GMT


            Property News - Yorkshire town named top first-time buyer hotspot

Lindley, near Huddersfield, has been named as the top place in the UK for first-time buyers.

A list of places in the UK offering the highest levels of desirability and potential of return on investment to first-time buyers has named Lindley, near Huddersfield, as the top address.

Based on British postcodes, the Royal Bank of Scotland First-Time Buyer (FTB) Property Index reveals that Lindley (HD3) is currently in the process of major property redevelopment and provides affordable existing properties, a good supply of new homes and strong house price growth.

According to the survey of Britain's 2,800 postcode district, Lindley offers low average property prices at £138,886, compared with a national average of £193,489, and good access to the city of Leeds.

In second place in the list is Bo'ness in West Lothian, Scotland (EH51), followed by the city of Cardiff in Wales (CF10), Scotton, near Darlington (DL9), and Hawick, Berwick-Upon-Teed (TD9).

The list of the UK's top 22 first-time buyer hotspots outlines five key factors in determining the best places for new buyers to invest, claiming that the most important is a below average ratio of house prices to local earnings.

Other factors identified by the lender include significant increases in new build supply, urban regeneration, good transport links and strong house price growth. First-time buyers are advised to do their homework before purchasing a property over the next 12 months.

Recent studies have indicated that house prices in Britain are still rising at above the rate of wage inflation, compounding the affordability problems that are hampering many first-time buyers.

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