First-time buyer homes in the north of England are soaring in value faster than in any other part of Britain, research has found. The biggest rise was in the North West where the cost of getting on the property ladder soared 8.6% in 12 months to £144.453, up from £133,011. Close behind was Yorkshire and the Humber, where prices rose 8.4% to £148,060 from £136,617 a year ago. The North East had the cheapest first homes at £112,150, but also had an above-average rise of 5.6%. The average cost of a first home across Britain is £200,578 – up 3.9%, or £7,475, on a year ago, found the Rightmove study. The rise for all properties was 3.3%, meaning first-time homes are rising faster than the general market. The priciest first homes are in London, at an average £474,950, though that had actually fallen 1.4% from £481,542. Richard Powell of estate agents Ryder & Dutton covering Lancashire, Manchester and West Yorkshire, said: "It's probably easier to become a first-time buyer in this part of the world than many other regions."
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