Scottish area among top rising UK spots for first-time buyers

East Lothian, which includes towns like Musselburgh, North Berwick and Dunbar, was featured alongside other popular areas like Stoke-on-Trent and Newport.

Waverley in the South of England, Waltham Forest in London and Bassetlaw in the East Midlands, were the top three places with the biggest increase in first-time buyer purchases over the last 10 years.

Increasing its rank from 54 in 2013 to 29 in 2023, Waverley was found to have an average asking price of £385,150.

East Lothian contains towns like Musselburgh and North Berwick (Image: Getty Images/iStockphoto)

East Lothian named among the top rising first-time buyer hotspots in the UK

The Scottish region of East Lothian was found to have improved its ranking from number 23 in 2013 to number 18 in 2023.

The average asking price here was considerably lower than that of the top rising spot with first-time buyers expected to fork out £213,111 for a home.

Data from the bank also found that first-time buyers are increasingly compromising on location to get their dream home.

Some 67% of first-time buyers are moving to areas they have never been to – up from 51% over a decade ago.

This was said to be because of the affordability constraints affecting those looking to get on the property ladder.

67% of first-time buyers are moving to places they've never visited (Image: Getty Images)

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Graham Sellar, head of mortgage development at Santander, said: "Our latest data shows that first-time buyers are increasingly looking to purchase in neighbourhoods where they previously might not have considered - or even heard of.

"Those neighbourhoods which have seen the largest drop in FTB purchases, such as Teignbridge, also tell a story, as it becomes clear that location has become the number one compromise for many looking for their first home. 

"As first-time buyers explore these alternative neighbourhoods, we want to reassure our customers that Santander are here to support them achieve the exciting milestone of purchasing their first home, wherever it may be."