First-time buyer asking prices over past year, 5 years & 10 years

Rightmove logo

In advance of tomorrow’s budget I’ve outlined below the latest first-time buyer asking prices by region, over the past year, past five years, and past 10 years.

  • First-time buyer asking price growth over the past year and over the past five years was highest in the North West and lowest in London
  • First-time buyer asking prices in London are 5% lower than five years ago, from £504,264 in 2016 to £478,068 now
  • Asking price growth over the past ten years was highest in London and lowest in the North East


Region Feb-11 Feb-16 Feb-20 Feb-21 2021 vs 2020 2021 vs 2016 2021 vs 2011
North West £113,410 £118,540 £135,742 £147,693 9% 25% 30%
Wales £116,976 £125,084 £138,639 £149,337 8% 19% 28%
Scotland £103,902 £106,156 £116,610 £124,424 7% 17% 20%
North East £101,952 £103,589 £105,761 £112,167 6% 8% 10%
West Midlands £121,554 £139,685 £158,323 £164,986 4% 18% 36%
Yorkshire and The Humber £116,048 £126,534 £140,413 £145,942 4% 15% 26%
Great Britain £143,352 £177,294 £193,768 £200,692 4% 13% 40%
South West £158,270 £186,965 £210,998 £218,336 3% 17% 38%
East Midlands £114,460 £134,366 £157,101 £161,443 3% 20% 41%
East of England £158,821 £213,415 £240,033 £244,280 2% 14% 54%
South East £179,543 £238,395 £258,598 £263,159 2% 10% 47%
London £307,745 £504,264 £486,383 £478,068 -2% -5% 55%

A reminder of other stats around asking prices and the stamp duty holiday:

If the stamp duty holiday is extended until the end of June:

  • Rightmove estimates an additional 300,000 property transactions in England could get through, based on previous HMRC data
  • If an additional 300,000 transactions made it through, buyers could save £1.75 billion in total
  • Based on the current sales that have been agreed in England, 80% would pay no stamp duty due to this holiday


There are an estimated 628,000 sales in total still currently in the legal process across Great Britain, including those that were agreed last year and those that have been agreed so far this year.

Currently, Rightmove estimates that 100,000 buyers who agreed a purchase last year are set to lose out, if the deadline stays as 31st March.

Rightmove’s property expert Tim Bannister said: “We estimate that around 100,000 sales will miss the current March deadline, and so if the holiday is extended to the end of June it would give these the chance to complete in time, plus a number of other sales could now make it through that were only agreed at the start of this year. If it is announced this week we’re likely to see a rush of new buyers also trying to make use of the savings, but it’s worth remembering that the huge logjam will mean a new sale being agreed is still likely to take over four months on average to complete, so really an extension for a few months would be an indication that it’s to help those already trying to get their purchases through.”

If the stamp duty holiday is extended for six weeks buyers could save up to £1 billion.

Mortgage guarantee scheme:

  • 86% of properties up for sale have an asking price of £600,000 or less
  • Since the 2013 Help to Buy mortgage guarantee scheme was first announced, national asking prices have increased by 29% from £246,748 in October 2013 to £318,580 in February 2021
  • Since the 2013 Help to Buy mortgage guarantee scheme was first announced, national asking prices for first-time buyer properties have increased by 36% from £147,464 in October 2013 to £200,692 in February 2021
  • The national average asking price for all properties is currently £318,580, which is 3.0% higher than February 2020
  • The national average asking price of a first-time buyer property is £200,692, which is 3.6% higher than February 2020


The average asking price and average 5% deposit and 10% deposit by region for all properties is as follows:

Region Average Asking Price Feb-21 Average Asking Price


Annual change 5% deposit 10% deposit
East Midlands £236,453 £229,099 3.2% £11,823 £23,645
East of England £363,974 £353,078 3.1% £18,199 £36,397
London £621,886 £629,053 -1.1% £31,094 £62,189
North East £159,430 £151,206 5.4% £7,972 £15,943
North West £215,561 £200,985 7.3% £10,778 £21,556
South East £414,445 £404,114 2.6% £20,722 £41,444
South West £318,449 £308,106 3.4% £15,922 £31,845
West Midlands £240,789 £231,893 3.8% £12,039 £24,079
Yorkshire and The Humber £202,809 £197,344 2.8% £10,140 £20,281
National £318,580 £317,058 3.0% £15,929 £31,858

Note, the London average asking price is above the proposed £600,000 threshold.


UK Property news updates shared directly from Rightmove PLC - the country's leading property portal.

You May Also Enjoy

Estate Agent Talk

How to Buy a Property in Today’s Competitive Market

Introduction It is common knowledge that the current real estate market is thriving, particularly in Florida. It is always highly in demand, and prices are rising due to the influx of people by the hundreds of thousands and even the millions. You are now perplexed about how you will ever be able to buy a…
Read More
US Flag
Breaking News

Is the state of Georgia a good place to retire?

Introduction Florida and Georgia have been friendly rivals for a long time, probably most famously on the football field where the universities of the two states compete against one another yearly. But Florida and Georgia are also engaged in a fresh competition over which state offers a superior environment for retirees. You are lucky since…
Read More
Overseas Property

Moving to Vancouver: Is living in Vancouver pricey?

Introduction One of the cities in Canada and all of North America with the highest population density in Vancouver. It is the most culturally and linguistically diverse city in Canada and the third-largest metropolitan area in the country. Since 2014, the city has been the permanent location for TED conferences and has hosted several international…
Read More
how to present your property for sale
Overseas Property

The Top 5 Real Estate Agents in Mississauga

Looking for a real estate agent in Mississauga? Look no further! We have compiled a list of the top 5 agents in the city, based on their experience and success rate. Whether you are looking to buy or sell property, these agents will be able to help you achieve your goals. Contact one of them…
Read More

Real Estate Copywriting Guide: 5 Tips For More Sales

Content related to real estate takes an important place in the thematic sections of copywriting. People always buy, sell or rent housing, which means this topic never loses relevance. However, real estate content cannot be called simple, but if you want big sales, you need to improve in this area, and you can learn how…
Read More
Breaking News


Daily bite-sized proptech and property news in partnership with Proptech-X.   Half of tenants who fear never owning own home face uphill battle in pet-averse rented sector New research from animal welfare charity Battersea reveals that one in two tenants fear they will never buy a home, with the growing number of lifetime renters significantly…
Read More