Six of the cheapest homes on the Blackpool housing market as average price for first-time buyers hits record high

Sales of starter homes in March were around 4% higher than in March 2019 – four years ago.

Rightmove, which released the findings, included houses and flats with a maximum of two bedrooms – while properties higher up the chain are largely unaffected.

What is driving the rise in first-time buyer house prices?

Rising rents could be encouraging more first-time buyers to make the jump onto the property ladder, despite relatively high borrowing costs.

Tim Bannister, Rightmove’s director of property science, said: “More competition amongst lenders in the smaller deposit, higher loan-to-value ranges is positive news for those would-be first-time buyers who have saved up their deposit and can still afford to move.

“However, it remains a challenging environment to get onto the ladder.”

What is the average price for a home in the UK?

The average price tag on a home generally in April was £366,247.

Rightmove’s report also quoted the views of estate agents.

Ben Rose, director at Lancashire-based Ben Rose Estate Agents, said: “We’re seeing locally that the number of new instructions and sales agreed is the highest it has been for several months, and while this is not the very high level they were during the pandemic years, they are high compared to before the pandemic.”

Here are some of the most affordable first-time buyer houses for sale in Blackpool.