Neath Port Talbot 'up-and-coming' location for first-time buyers, according to new survey

Neath Port Talbot is on a list of "up-and-coming" locations where aspiring first-time buyers could look to start their journey on the property ladder, according to a new survey.

House prices in Wales have slowed over the past year due to interest rate rises. The average mortgage rate for a two-year fixed deal is now over 6%.

That increase has led to many first time buyers putting their plans to purchase a home on hold, Halifax says 41 percent have pushed back on plans by fours years, on average.

The bank has also been carrying out analysis to identify locations with lower average house purchase prices compared with the surrounding region.

It carried out a census of 3,000 18 to 34-year-olds across the UK in August who have not bought a property. This is what they found:

Kim Kinnaird, mortgages director at Halifax, said: "Despite fluctuating house prices, the desire to buy a first home isn't going away, with almost nine in 10 young people keen to get on the property ladder.

"There's an appetite from under-35s to consider more affordable areas further afield, so we've identified up-and-coming locations that prospective first-time buyers might do well to look into."

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