The Best UK Cities for Graduates to Start Homeownership

1. Manchester

• Open jobs: 164K
• Average first-time buyer house price: £233K
• Months to save a deposit: 12
• Monthly cost of living: £683
• Mortgage-to-income ratio: 70%
• Final score: 99/100

Manchester is the best place for British graduates to buy their first home. The city has a large job market with 164K open vacancies right now, meaning graduates who move here have a realistic chance of finding well-paid work quickly. That income, combined with monthly living costs of just £680, makes saving for the deposit achievable in about a year. And once the mortgage starts, it only takes up 70% of disposable income.

2. Birmingham

Birmingham is the second-best city for first-time homebuyers. The job market is almost as big, with 161K openings, so career prospects are just as strong. But the average property costs £211K, about £22K less than Manchester, which brings the deposit down and makes saving it achievable in 12 months on a typical graduate salary. The mortgage then eats up less than 70% of the remaining leftover money, which is quite manageable.

3. Glasgow

Next on the list is Glasgow, where it takes just 8 months for recent graduates to save for a down payment. At £166K, Glasgow properties are significantly cheaper than those in Manchester, Birmingham, or Leeds, so less savings are needed to get started. Once the mortgage begins, it then takes just 48% of disposable income, meaning graduates here also end up with more financial breathing room. Companies in Glasgow are actively hiring, too, with around 100K vacancies listed across the city right now.

4. Leeds

Leeds is also among the best cities to buy a first home. With 131K vacancies, it has the third-largest job market in the UK, yet remains affordable, as monthly expenses are under £700. With living costs this low, and typical homes in the city selling for around £213K, early-career professionals here would need about 11 months to save for a deposit. And once mortgage payments begin, they would take roughly 60% of take-home income, still leaving enough to save for a vacation or other goals.

5. Nottingham

Nottingham rounds out the top five as one of the most affordable cities in the UK. Monthly living costs here rarely exceed £600, allowing graduates to keep more of their salary. Properties average £177K, and with those low running costs, young professionals here can realistically save for a down payment in just 9 months. Plus, after putting down the deposit, the mortgage will take only 55% of their disposable income.

A housing analyst from Everest Mortgages commented on the study: 

“A lot of graduates assume they need to be in London or the South East to build a career, but that thinking is outdated. Leeds, Manchester, and Birmingham all have strong tech, finance, and professional services sectors, and you can buy a home in those cities for less than half the price of an equivalent property in the capital. For a graduate weighing up their first purchase, the north of England and Scotland are offering a good deal right now.”

When using the data, please credit: https://everest-mortgages.co.uk/