First-time buyer ‘hotspots’ where demand is defying national trends have been pinpointed by Rightmove.

First-time buyer demand was 4% lower in April than the same month last year, but in some places there were striking figures to stand out against this picture.

West Oxfordshire leads the way, with demand for typical first-time buyer properties up 45% year-on-year, with a 37% increase in available first-time buyer-type homes for sale and flat house prices helping the market.

It is followed by East Staffordshire, was up 31% and Bracknell Forest was up 28%.

First-time buyer market

The market for first-time buyer homes is holding up better than the wider situation, despite higher mortgage rates, Rightmove says.

An average new first-time buyer monthly mortgage payment is now £998 a month, up from £904 in February.

First-time buyers are more exposed to mortgage rate rises.”

Colleen Babcock, Head of Partner Marketing at Rightmove, says: “First-time buyers are more exposed to mortgage rate rises, so it was quite surprising to see this sector holding up more strongly than the wider market.

“While overall buyer demand is lower than last year, there are pockets of Great Britain seeing more activity, where local factors are making a real difference.”

Resilience

Mary-Lou Press, President at NAEA Propertymark, says: “The resilience of the first-time buyer market, despite higher mortgage costs, reflects the determination many buyers still have to get onto the housing ladder, particularly in areas where affordability and choice have improved.

“On the ground, buyers are becoming more value-driven and flexible on location. Areas like West Oxfordshire, East Staffordshire and Bracknell Forest are attracting strong interest due to a mix of improved stock levels, stable pricing and good connectivity to larger employment hubs.”

More on first-time buyers