reallymoving has launched a new interactive map to help first-time buyers (FTBs) find affordable homes across the UK.
The map allows users to enter their budget and number of bedrooms, showing a heatmap of the country with areas in green where 90% or more of properties were within budget, and less affordable areas in orange or red.
The data found that there were pockets of affordability even in regions such as London and the South East.
In London, buyers with a £400,000 budget could afford 97% of homes in Purfleet, compared to 0% in South Kensington.
In Birmingham, 89% of homes in B35 were within reach, while only 2% in Leamington Spa CV32.
In Manchester, Accrington BB5 offered 98% affordability, and in Newcastle, 88% of homes in Peterlee SR8 were within budget.
Rob Houghton, CEO at reallymoving, said: “If first-time buyers focus only on average house prices, the dream of owning a home may seem impossible – but those numbers don’t tell the full story.
“Rather than relying on general statistics, buyers can now get a clear, localised view of where they stand the best chance of finding a home they can afford.
“Even within a 30-minute commute of London, there are locations such as Purfleet, Gravesend, Watford and parts of Croydon where first-time buyers with an average London budget of £400,000 can access a large proportion of the market.”
Houghton added: “While high house prices are a challenge, affordability is key and with interest rates steadily coming down we are seeing lenders become increasingly competitive in terms of Loan to Values and rates, so there’s every reason to be hopeful.
“I would urge first-time buyers to focus their search on the areas with good transport links which offer them a really wide choice of properties, rather than assuming a purchase is unachievable.”
