These two Yorkshire cities have been named among the cheapest for first time buyers

Bradford in West Yorkshire came out on top; the city has already been named the upcoming City of Culture for 2025 and is now considered the cheapest city for first-time home buyers

This has resulted in it becoming cheaper to cover monthly mortgage payments when buying a home in some cities, rather than the average local rental payments.

Rightmove property expert, Tim Bannister, said: “For those who are able to save up the deposit, it’s still cheaper to pay off a mortgage as a first-time buyer in many areas than pay the equivalent in monthly rent, despite prices reaching a new record at a national level and mortgage rates rising. “It highlights how frenetic the rental market has been for a long time now, with many areas continuing to see record rents and fierce competition between tenants for the properties available.

“It helps to explain why we’re seeing such determination from first-time buyers to continue to get onto the ladder, despite the wider economic pressures that they face. And it also explains why we’re seeing buyers increasingly return to cities while a bigger proportion of renters are looking to move away.”Average monthly mortgage payment per month: £521

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The Yorkshire Post /  🏆 39. in UK

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