UK's Best Places for Gen-Z to Buy a Home: London's Most Affordable Borough Revealed

Getting on the property ladder in your 20s may seem unattainable for many aspiring homeowners, but in some parts of the UK, the average first-time buyer age is as young as 27, analysis by Lloyds has found. Nestled in picturesque countryside in the north west of England, the Ribble Valley in Lancashire has an average first-time buyer age of 27 – five years younger than the average age across the UK of 32, according to Lloyds.

Encompassing charming villages, with the bustling market town of Clitheroe at its heart, the Ribble Valley was found to have the youngest typical first-time buyer age in Lloyds' study. Other locations were also found where the average first-time buyer age is slightly over 27, including nearby Pendle. In South Staffordshire in the West Midlands, the average first-time buyer age is also just over 27. And in locations including north Norfolk and mid-Suffolk in eastern England, the average first-time buyer age is just a touch older, at around 28 – putting homeownership within reach for some Gen-Zs.

As well as the youngest typical first-time buyers, Lloyds also looked at the least expensive locations in the UK for people getting on the property ladder, to highlight areas where buying may be more achievable. While no London boroughs made the cheapest locations list, the borough where homes are most affordable for first-time buyers is Barking and Dagenham, costing £363,748 on average.

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East Ayrshire in Scotland was identified as the least expensive location, looking at the average price paid by people buying their first home. The average first-time buyer price in East Ayrshire is £147,353, Lloyds said, adding that the area is well connected to Scotland's central belt, with routes into Glasgow and nearby employment hubs. That may help buyers to balance countryside living with a manageable commute.

Amanda Bryden, head of mortgages at Lloyds, said: "Our research shows there are still genuine pockets of value for first-time buyers, particularly for those with an open mind who are willing to be flexible on location and property type. With ongoing cost-of-living pressures and wider economic uncertainty, it's completely understandable that some people are feeling cautious. But there are opportunities out there, and for many buyers, that flexibility can make a real difference."

The research is based on Lloyds Banking Group's housing statistics database, drawing on mortgage approval data from customers of Lloyds Bank, Halifax and Bank of Scotland. Average house prices were calculated covering the 12 months to February. Giving general tips to first-time buyers, Ms Bryden suggested that they do their research on the home-buying process, speak to a mortgage professional early on and consider the different types of support available.