Why first-time buy­ers haven’t had it this good for years

The Daily Telegraph - Property - - Front Page -

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.

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