The most popular areas of Bournemouth and Poole for first-time buyers have been revealed.
Springbourne, East Cliff, Boscombe, Canford Heath and Creekmoor are hot spots for people stepping up the property ladder, according to a local Purplebricks real estate expert.
Mark Turk, local property expert for Bournemouth at Purplebricks, said: ‘These areas tend to have lower house prices than other postcodes in Bournemouth and Poole, amenities are close by and they have excellent transport links.
âSpringbourne, East Cliff and Boscombe are close to the Bournemouth Travel Interchange. These areas are also very close to Bournemouth town center with its nightlife. ”
Read more: Six properties that could be ideal for first-time buyers in Bournemouth and Poole
Mr Turk added: “Canford Heath and Creekmoor are popular with young families as there is a mix of properties, mostly small family homes and the education is excellent.”
A new study from Purplebricks shows that nearly half of today’s first-time buyers made good use of their foreclosure savings by fully funding their own deposit, compared to a third of first-time buyers in 2016.
According to the research:
- Forty-five percent of first-time buyers have collected a full down payment on their own without help from other sources, although mom and dad’s bank will still help 19% move up the property ladder.
- First-time buyers plan to deposit an average deposit of Â£ 34,887, down from Â£ 41,989 in 2016.
- Good Wi-Fi is now important for more than half (58%) of first-time buyers compared to 26% in 2016 – making it a higher priority than proximity to good schools, pubs and cafes.
According to Purplebricks, first-time buyers plan to deposit smaller deposits than their counterparts five years ago – down payments having risen from Â£ 41,989 in 2016 to Â£ 34,887 today.
This may in part be due to the recent announcement of the government’s mortgage guarantee scheme (which allows first-time buyers to move up the property ladder with only a 5% down payment), which means that first-time buyers first-time buyers feel able to start their property search with a smaller deposit.