Manchester has been named the best city in the UK for graduates looking to get onto the property ladder according to research from Everest Mortgages.
The study analysed more than 30 UK cities, examining job opportunities, average house prices, deposit affordability, mortgage costs and day-to-day living expenses to identify where early-career professionals have the strongest prospects of becoming homeowners.
Manchester topped the rankings with a score of 99 out of 100. The city combines an estimated 164,000 job vacancies with an average first-time buyer property price of £233,000, allowing graduates to save a typical 10% deposit within 12 months.
Birmingham finished second, while Glasgow, Leeds and Nottingham completed the top five. Aberdeen ranked sixth but stood out for having the lowest average house price among the leading cities at £114,000 and the shortest estimated deposit-saving period of just five months.
REGIONAL APPEAL
The findings highlight the growing appeal of regional cities as affordability pressures continue to challenge prospective buyers across southern England.
Manchester’s strong employment market was a key factor in its ranking, with researchers suggesting graduates can secure relatively well-paid roles while benefiting from living costs that remain significantly below those found in London.
Birmingham also performed strongly, offering a large employment market and average property prices around £22,000 lower than Manchester. Meanwhile Glasgow’s lower average house price of £166,000 helped it achieve one of the strongest affordability scores in the study, with mortgage repayments accounting for less than half of disposable income.
Nottingham emerged as one of the UK’s most affordable cities overall, recording the lowest monthly living costs among the top ten locations at under £600 per month.
GOOD DEALS AVAILABLE
A housing analyst at Everest Mortgages says: “A lot of graduates assume they need to be in London or the South East to build a career, but that thinking is outdated.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.”
TOP 10 CITIES FOR GRADUATE HOME OWNERSHIP
- Manchester
- Birmingham
- Glasgow
- Leeds
- Nottingham
- Aberdeen
- Newcastle upon Tyne
- Bristol
- Sheffield
- Stoke-on-Trent
