The Annual First Time Buyers Survey from Clydesdale and Yorkshire Banks found that a three bedroom house is the top choice for almost a third (32 per cent) of first time buyers.
Meanwhile, 24 per cent said they would prefer a two bedroom flat.
A two bedroom house is the next on the starter property list for more than a fifth (22 per cent) of the nation’s first time buyers, with 10 per cent opting for a three bedroom flat. Just 7 per cent said they would aim for a one bedroom flat and only 3 per cent for a one bedroom house.
The survey also highlights the property trends in different regions with 63 per cent of Londoners opting for a flat whilst only 37 per cent prefer a house. In contrast 87 per cent of those surveyed in Wales select a house with only 13 per cent choosing a flat.
Regional Breakdown of preferences for flats v houses
| Region | Flat | House | Other |
| UK average | 41% | 57% | 2% |
| East | 37% | 63% | n/a |
| London | 63% | 37% | n/a |
| Midlands | 35% | 65% | n/a |
| North East | 48% | 52% | n/a |
| North West | 29% | 71% | n/a |
| Scotland | 50% | 48% | 2% |
| South East | 34% | 63% | 3% |
| South West | 37% | 56% | 7% |
| Wales | 13% | 87% | n/a |
| Yorkshire | 33% | 65% | 2% |
The annual research also revealed that the majority (59 per cent) of those surveyed rent before buying their first home while 23 per cent stayed with their parents or other family members.
Clydesdale and Yorkshire Banks are currently providing a range of competitive mortgages for first Time Buyers, including new 95 per cent and 90 per cent Loan to Value products fixed for three years at 4.89 per cent and 3.89 per cent respectively. As well as a £250 cash back offer and no arrangement fees the mortgages come with a free standard valuation and there is no funds transfer fee.
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