Croydon has been named the most popular location for UK homebuyers over the last five years, according to research from Mortgage Advice Bureau’s My MAB and Home Buying apps.
The London borough secured the top spot with an average property price of £409,800, slightly below the overall London average of £421,000.
This makes it a more accessible entry point for buyers wanting to live in Greater London, particularly first-time buyers.
In Scotland, Edinburgh recorded the highest number of prospective buyers with an average property price of £397,800, followed by Aberdeen and Glasgow.
Mortgage Advice Bureau noted that regeneration in both Aberdeen and Glasgow has contributed to their growing popularity.
In Wales, Swansea emerged as the leading location, with an average property price of £189,400, ahead of Newport and Cardiff. Swansea’s affordability was highlighted as a key factor attracting first-time buyers.
In Northern Ireland, Belfast led demand with an average property price of £197,000, supported by its status as the region’s capital and economic hub.
The data showed property prices across these cities peaked in 2024, with England reaching £336,934, Scotland £395,810, and Wales £243,922.
London remained the most expensive area over the five-year period, with an average of £467,152, while Northern Ireland remained the most affordable, peaking in 2022 at £227,853.
Buyer preferences indicate most prospective homeowners are seeking two- or three-bedroom properties, reflecting a balance between cost and practicality.
In London and Edinburgh, demand averaged 2.2 bedrooms due to higher property prices, while Croydon and Swansea averaged 2.6 bedrooms, allowing for more space at lower prices.
Belfast buyers were found to favour the most space, with an average of 2.9 bedrooms, enabled by lower local property prices.
Demand for new builds has also risen, with Croydon and Edinburgh showing particularly strong interest over the past two years, reaching 90% and 93% respectively. London and Swansea also recorded relatively high levels of demand.
Rachel Geddes, strategic lender relationship director at Mortgage Advice Bureau, said: “For aspiring homebuyers, there’s never been a more exciting time to take that first step onto the ladder – regardless of where they may be based.
“Our data paints a clear picture: buyer confidence and demand are soaring. With mortgage lenders constantly finetuning affordability stress testing and introducing new, innovative products, prospective buyers can borrow more than they could even compared to a few months ago.
“With the support and expertise of a mortgage broker, prospective buyers can discover what’s possible, placing themselves in the strongest possible position to have a place they can truly call their own.”
