Burnley has been revealed as the fourth best location in Great Britain, and number one best in England, for first-time buyers.

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A new study has found the cheapest areas of England, Scotland and Wales to get on the property ladder, based on how long it takes to save for a 15% deposit.

The study, conducted by UK property information site Property Cash Buyers, analysed how long it takes first-time buyers to save for a down payment. Using the HM Land Registry’s October 2024 house price data and the ONS’s 2024 provisional average wage figures for 377 local authorities across England, Scotland, and Wales, the average property price for first-time buyers was compared to local earnings.

Burnley has been ranked the number one most affordable location in England for first-time buyers.

placeholder image — Burnley has been ranked the number one most affordable location in England for first-time buyers.

Applying the 50-30-20 rule, where 20% of pre-tax income is saved, the study calculated how long a couple earning the average wage would take to save for their first home with a deposit of 15%.

In Burnley, it takes couples just under a year and six months to save for a first-time average deposit (£15,899). This makes the most affordable local authourity, and behind only the City of Aberdeen, North Ayrshire and North Lanarkshire when taking into account Scotland and Wales.