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The Guardian - UK
The Guardian - UK
Business
Rupert Jones

Number of UK first-time buyers in 2023 was lowest in a decade

United Kingdom Yorkshire Interest Rates Nationwide
Silhouette of two people looking at homes for sale in an estate agents window
Nationwide building society said that deposit requirements remained ‘prohibitively high’. Photograph: Yui Mok/PA

The number of first-time buyers who bought a home with a mortgage fell to its lowest level in a decade in 2023, according to a leading lender.

The figures, from Yorkshire Building Society, are the latest evidence that housing affordability has been stretched to the limit by rising mortgage interest rates and high house prices.

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