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New data from TSB shows that the average age of first-time buyers in the UK has fallen from 32 to 31 over the past year.
This shortcoming has come to light from the analysis of the bank’s third quarter data. London maintained the highest average age for new homeowners at 33, while Wales and Scotland recorded the lowest, both at 30.
Survey research conducted by the bank among first-time buyers who have got on the property ladder over the past five years also found that 17% expect to be mortgage free before 40.
A survey of more than 1,000 first-time buyers who purchased a home in the past five years by Censuswide in October found that the majority (57%) expect to take time off their mortgage term. Of those who have paid more, more than two-fifths (43%) pay monthly.
Craig Calder, Mortgage Director tsbSaid: “Paying more can be a great way to save years off your mortgage.”
According to TSB data, the average age of first-time buyers in Q3 2024 and thereafter in Q3 2025 is as follows:
east anglia: 33, 32
East Midlands: 31, 32
London: 33, 33
North West: 31, 32
North East: 30, 31
South East: 33, 32
South West: 31, 32
scotland: 30, 30
West Midlands: 32, 31
wales: 31, 30
yorkshire and Humber: 31, 31