Town sees highest rise in first-time home prices

Bridlington has seen the joint highest rise in property prices for first-time buyers in the country, according to a report.

A survey by Rightmove found the average cost of a two-bedroom home in the town was £167,321, a rise of 18% over the last year.

St Helens on Merseyside also saw an 18% increase in the average cost of a first-time home to £133,106.

Nathan Emerson, chief executive of property professionals' body Propertymark, said "affordability continues to drive first-time buyer activity".

"The strongest price growth is concentrated in areas where homeownership remains within reach," he said.

"While demand remains strong in many northern English and Scottish markets, buyers still face challenges from higher mortgage costs, ongoing living expenses and saving for a deposit."

Rightmove said the fastest-growing areas for asking prices on its list had average prices below £170,000, "highlighting continued demand for more affordable homes".

Its survey found higher priced areas such as Southampton and Brighton saw prices fall.

Across the UK, the average price for a first-time property is £228,048, down by 0.7% annually.

The analysis excluded London sales from the figures.

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