London named most expensive city for first-time buyers, while Bradford offers affordable option

Britain has released a list of its most and least expensive cities for first-time buyers.

According to a recent study by property website Rightmove, London is the most expensive city, with an average asking price of £508,879 for a typical first-time buyer home.

This would equate to monthly mortgage payments of £2,533.

On the other hand, Bradford in Yorkshire has been identified as the cheapest city, with an average asking price of £104,643 for a similarly sized home.

Monthly mortgage payments in Bradford would be around £521.

The study also found that first-time buyers in Carlisle and other cities could save money by getting onto the property ladder, with monthly mortgage payments being cheaper than renting in around half of the cities surveyed.

The study also highlighted that first-time buyers in St Albans, a popular city with families and commuters, could potentially end up paying more in monthly mortgage payments than they were when they were renting.

The average monthly mortgage payment for a first home in St Albans is £1,958, which is £525 more than the average rent.