The average age of a first buyer in the UK is currently 34 and their typical deposit is £ 24.5,000 according to New Analysis by MortGage Advice Bureau (MAB).
The mortgage permediary said that first buyers were good for 67% of borrowers in the last 12 months, which underlines the crucial role they play on the British housing market.
But despite these high numbers, almost half of the first buyers-43%extremed had to use income to enable them to buy their house.
This information, which is customer data from 4,533 users of MABs Mymab and homebuying -appsNot only does the typical first buyer age identify as 34, it shows their average annual income of £ 35,900.
According to the research, First buyers Actively saved an average of £ 585 per month, built on initial deposit over savings of approximately £ 24,500, with the aim of buying a property with a value of £ 226,900.
It discovered that 47% of the first buyers only bought a property in 2024, to support MAB’s earlier study, there was an increase in solo mortgage applications.
No less than 31% of the first buyers have charged people, MAB found, indicating that family needs were an important consideration in the search for real estate.
Although 97% was a full -time work, 43% had to use extra income on top of their salaries to support their goals from the homeowner.
According to the research, first buyers in London in London were confronted with the most important financial obstacles. At an average age of 36 they earn more than the regional average with a typical income of £ 51,000 in capital. They have larger deposits (£ 37,000) and save more monthly (£ 760).
Nevertheless, they strive to buy properties that cost an average of £ 340,600, and they strive for a longer purchase trip of 18 months. The majority – 65% – bought alone, and less reports are charged to persons, as a result of the higher costs of living in the capital.
Rachel Geddes, strategic director of Lender at MortGage Advice Bureau, said: “The first buyer market is certainly versatile, and our research only goes understood.
“Just as there is no such thing as a typical first buyer, there is also no ‘one-size-fits-all’ when it comes to finding the right mortgage.
“However, there is always more that we can do, because universal challenges such as affordability, regional differences in real estate prices and the costs of living will always remain.
“The average age of a first buyer at 34 is much too high and is a blatant call for action for our industry to take place and do more. Insight into these trends is crucial for policy makers, lenders and service providers looking for this crucial segment of the British housing market.
“That said, the future looks rosy. The question remains high, and with an increasing number of lenders improving their affordability criteria and offering innovative loan solutions, there has never been a better time for prospective buyers to get to the real estate ladder.”