Average price of first home varies by more than £150,000

The cost of taking the first step onto the property ladder can vary by more than £150,000 depending on where you live in the UK.

Clydesdale and Yorkshire Banks have revealed the average prices* of first homes range from £100,831 in the North East to £260,261 in London**.

The figures also show that the average prices for first time buyers are lower in most areas than previous years. In the South East the prices are £16,500 lower than in 2007, whereas in London the difference is just £5,403.
Steve Reid, retail director for Clydesdale Bank and Yorkshire Banks, said: “House prices vary significantly throughout the UK and these figures indicate that in some areas there is more than £16,000 difference in the cost of a first home compared to prices in 2007.”