Why first-time buyers haven’t had it this good for years
First-time buyers need to leave their prejudices at the front door and get to know previously unconsidered areas when house hunting.
In Birmingham, for example, there is life beyond the fashionable Jewellery Quarter. For value for money, Peter Smith of Knight Frank thinks that Moseley, two miles from the city centre, is the place to look. “With local bars, restaurants and independent retailers, Moseley offers a cosmopolitan atmosphere in one of the city’s leafiest suburbs,” he says. “With the proposed reopening of the train station within the next three years, prices here are set to rise.” You can buy a brand new two-bedroom apartment for £220,000.
Bristol is one of the UK’s most expensive cities, which means most first-time buyers can forget a nice little flat in Clifton or the Harbourside. “Bedminster is a skip over the bridge from Bristol city centre and has become extremely popular with first-time buyers,” says Amanda Ake of Stacks Property Search. “The families moving in have had the knock-on effect of independent cafés and shops springing up. Bedminster, I believe, still has plenty of growth and is one of the more interesting and cosmopolitan places to live in Bristol.” Expect to pay around £250,000 to £300,000 for a two-bedroom purpose-built flat or period terrace.