First-time buyer numbers drops in 2022 as cost of first home rises by 10%

The housing markets in 2020 and 2021 were skewed by the impacts of the coronavirus pandemic, industry experts said (Yui Mok/PA) (Picture: PA Archive)

The number of first-time buyers is estimated to have fallen by around nine per cent in 2022, according to analysis by a building society.

Across the UK, the number of people taking their first step onto the property ladder was estimated to have fallen to 370,287 across 2022, edging down from a 20-year high of 405,320 in 2021, Yorkshire Building Society said.