Map reveals first-time buyer hotspots 15% cheaper than average and you need a deposit of as little as 7,856 [Video]

BRITAIN is brimming with first time buyer hotspots where properties are up to 15% cheaper than the average price of the rest of the UK.

Manchester has emerged as the number one place new homeowners are flocking to.

Young buyers accounted for 75% off all home purchases in the UK’s third largest city, up from 65% in 2020, new figures from lender Halifax have revealed.

The average first-time buyer property price is £212,891, which is around £35,000, or 15%, below the average in Britain.

A deposit in the city can cost as little as £10,644 if applicants qualify for a 95% mortgage.

Second on the list is Slough in Berkshire, which has become an increasingly popular location for first-time buyers, who represented 73% of all properties purchased with a mortgage in the area last year.

The average property price in the town for first-time buyers is £322,961, around £75,000 above the British average, but still well below the …