If you’ve been thinking about buying your first home, you’ve probably felt the mix of excitement and uncertainty that comes with it. The latest Skipton Group Home Affordability Index offers a clearer, more encouraging picture of what homeownership might look like for you in 2026 — and importantly, why first time buyers like you may have more reasons for optimism than you expected.
The research shows that the average age of a first time buyer in England is now 34, up from 29 in the mid 1990s. That shift doesn’t mean you’re “behind” — it simply reflects how long saving now takes for many people. The report also highlights that first time buyer deposits have grown to a level that now exceeds annual income, which can understandably feel overwhelming at first glance. But Skipton goes beyond surface level numbers and looks at what truly shapes your buying power: your deposit, your income, and the realistic property prices first time buyers tend to pay in the region where they live.
One of the most encouraging insights from the report is their forecast that buying affordability is expected to improve over the next couple of years. After several years of changing conditions, this forward looking picture suggests that things may become more manageable for many aspiring first time buyers like you. Instead of focusing solely on the hurdles, you can look at how affordability is shifting and what it means for your own plans.
Another helpful part of the Index is the way it separates buying affordability from living affordability. Buying affordability looks at whether your deposit and borrowing potential are enough to purchase a first home in your local area. Living affordability looks at the essential costs of running that home — things like your mortgage payments, utilities, council charges, household insurance and ongoing maintenance. Understanding both gives you a clearer sense of not just how to get onto the ladder, but what life looks like once you’re on it, helping you feel more informed and more confident as you start planning your next steps.
These insights also reveal the practical realities facing many would be buyers. Around 40% of renters say they would consider moving back in with family if it meant they could save more effectively for a deposit. While that option isn’t right or possible for everyone, it shows just how committed people are to finding a route that works for them — and it underlines the importance of understanding what your buying power actually looks like.
One of the most helpful ways to gain that clarity early is by getting a mortgage Agreement in Principle (AIP). An AIP gives you an indication of how much a lender may be willing to lend based on your circumstances. It doesn’t commit you to a mortgage, and you don’t have to apply for a particular product, but it does give you a clearer sense of your budget as you begin looking at homes. Having an AIP in place can make the whole experience feel more focused and less overwhelming. It helps you understand which properties are realistically in reach, reduces the chances of disappointment later, and signals to sellers and estate agents that you’re a serious buyer when you’re ready to make an offer.
With the landscape beginning to shift, this could be a good moment for you to revisit your plans, understand your numbers, and explore what affordability might look like in your own situation. Although saving remains a major part of the journey, the direction of travel is becoming more positive. That means the path to buying your first home may be clearer — and closer — than you think.
If you’re starting to think about your first home and would like a clearer idea of what you may be able to borrow, you’re very welcome to book a free appointment with us. We can talk through your situation, help you understand your potential borrowing range, and arrange an Agreement in Principle if you decide it’s the right next step. There’s no obligation — just a chance to get clarity and feel more confident as you begin your homebuying journey.
