A growing number of first-time buyers (FTBs) are stepping onto the property ladder with nursery-aged children in tow, but securing both an affordable home and a top-rated nursery is proving increasingly difficult, according to the latest analysis from Yopa.
One in five first-time buyers (21%) are either expecting or already have children aged 0-5, making the quality of local early years education a crucial factor in their home-buying decisions.
However, just 13.8% of early years providers across England are rated as outstanding, posing a major challenge for young families trying to find the right location.
Over the past decade, first-time buyer house prices have soared by 52%, now averaging £258,813.
STRETCHED AFFORDABILITY
As a result, the average first-time buyer is now 32 years old, according to Lloyds Bank. With housing affordability stretched, more buyers are finding themselves in the market later in life – often with children in tow.
Yopa’s research highlights the tough reality facing these buyers: while 77 local authorities across England offer an above-average proportion of outstanding nurseries, the average first-time buyer house price in these areas stands at £279,475 – 8% higher than the national average.
Despite the challenges, Yopa’s analysis pinpoints areas where buyers can strike the right balance between affordability and outstanding childcare.
TOP CHOICE
Calderdale emerges as the top choice, boasting the third-highest percentage of outstanding early years providers (21.9%) in England, while maintaining an average first-time buyer house price of just £171,392 – 34% below the national average.
In Sunderland, 21% of nursery providers are rated outstanding, while the average first-time buyer house price is 49% below the national average, offering one of the most affordable options for young families.
Other standout locations include Shropshire (20.7%), Worcestershire (20.2%) and Peterborough (20.1%) where over 20% of nurseries hold outstanding ratings and house prices remain between 6% and 22% below the national average.
COMMUTER CONVENIENCE
Verona Frankish, Chief Executive of Yopa, says: “When it comes to climbing the property ladder, children have always been an influential factor.
“While commuter convenience and a lively social scene may have been top priorities in the past, the quality of early years education is now a driving force behind home-buying decisions.”
“However, outstanding early years providers are few and far between, and when combined with rising property prices, finding the right balance is a real challenge. The good news is that there are still areas where buyers can access top-tier childcare while securing an affordable first home.”
Read the Yopa report HERE.
