The UK regions with the highest and lowest average first-time buyer deposits

The property market is unstable at the moment making it increasingly difficult for first-time buyers to get on the ladder.

As a result, experts at Confused.com mortgages have looked at the latest data and found the UK regions with the highest and lowest average first-time buyer deposits. 

As we can expect, first-time buyers in the Greater London area have to save up the highest deposit for their first property with the average deposit sitting at £125,378  because house prices in this region are the highest. However, this still represents almost double that of the next highest region. 

In the South East, a first-time home buyer should expect to save up around £68,749 to purchase their first property. This is up from £60,953 back in 2021. 

East Anglia recorded the third-highest average first-time buyer deposit in the UK at £60,169 in 2022. This was around £5,000 lower the year before at £55,250.

The UK region with the lowest deposit is the North East with first time buyers needing to save £30,198 this is up from £26,769 from the year before.

The research above was part of Confused.com’s latest first time buyer report Further key report findings include: 

• Over 9 in 10 (91.6%) of homeowners aged between 16-24 are living in their first home 
• Kensington and Chelsea recorded the highest first-time buyer house price of £1.2 million in 2023
• Thanet has seen the largest year-on-year increase in first-time buyer house prices of 8.3% since 2013
• Elmbridge recorded the greatest difference between first-time buyer property prices and overall house prices at 43.9%
• While no longer available, the UK has benefitted a total of £23.7 billion from the Government’s equity loan scheme.