• England: average age first time home buyers 2020

Between 2019 and 2020, the average age of recent first-time buyers in London was 2.3 years older than the England average. Across the UK, first time buyers accounted for approximately 357 thousand transactions during 2019.

First time Prices and mortgages

In London, the average value of a mortgage for first time buyers was far higher than all other regions in the UK. Apart from the initial cost of a down payment, those that can afford to, see monthly payment savings against those renting. In certain parts of the country, annual savings of buying against renting saw first time buyers amounted to over two thousand British pounds.

Help to buy

To encourage first time buyers, the UK government started the help to buy scheme. The scheme sees people saving for a first-time home receive a 25% bonus to their savings when purchases a house valued at 250 thousand British pounds (450 thousand British pounds in London). Between December 2015 and March 2018, the North West of England saw the highest number of Help to buy ISA bonuses paid.

Average age of recent first time home buyers in England from 2005 to 2020, in and outside London

Characteristic	London	England excluding London
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Source

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Source

Release date

December 2020

More information

Region

United Kingdom (England)

Survey time period

April 2019 to March 2020

Number of respondents

13,332 respondents

Method of interview

Face-to-face interview

Supplementary notes

The source classifies 'recent first time buyers' as those who have been residents for less than 3 years.
Sample size for 2018/2019, London; 47, England excluding London; 295