First time buyers head up north

06-Sep-2005

First time buyers have been advised to look north for cheap housing, with Openshaw in east Manchester seen as the ideal location.

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Voted the best up-and-coming area to invest in, Openshaw provides affordable housing options with a strong long-term growth potential and estate agents have encouraged more aspiring homeowners to purchase properties in the area.

The average house price in Openshaw stands at £130,000, making it a realistic alternative for potential property owners who cannot afford to buy in more expensive areas.

The affordable housing index by the Royal Bank of Scotland (RBS) found that Falkirk was best for Scottish buyers, Teeside provided the best opportunities for those in the north-east, while Stratford topped the list for London.

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A recent report from RBS revealed that first time buyers were feeling "positive" about the market and that the outlook for good for the next few years.

"There are key reasons for first time buyers to adopt an optimistic outlook," confirmed the bank's economics unit.

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