Most UK regions "property blackspots"
Seven out of 11 UK regions are "first-time buyer blackspots", according to Rightmove.
A new study by the property website found the percentage of first-time buyers dropped below 20 per cent in these areas, half the level required for "a healthy and functioning property market".
London is the only region with a proportion above 40 per cent, with the national average down from 30.8 per cent to 23 per cent over the last two years, it added.
The West Midlands and the north-west had the next highest figures behind the capital, with 23.4 and 23.3 per cent respectively.
Meanwhile, Scotland (16.8 per cent), Wales and the south-west (both 17.6 per cent) had the lowest.
Commenting on the report, Rightmove director Miles Shipside said: "First-time buyers perform an essential function at the start of the housing ladder by beginning chains that help others in the area to move as well.
"The emergence of so many first-time buyer blackspots has serious implications not
just for those who are unable to buy for the first time, but also local housing markets in each of those regions. It is particularly bad news for first-time sellers, for example."
Raising a deposit was named by prospective buyers as the biggest obstacle they face when purchasing a home for the first time, with finding the right property second ahead of meeting monthly mortgage payments and financial security.
Last week, the latest Halifax House Price Index revealed that house prices increased for a third month in a row in July.
Over the four weeks, the average cost of a property rose 0.3 per cent to £163,981.
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