The average deposit a first-time buyer needs for a home in Birmingham compared to other Midlands cities

Here's how much buyers are having to pay for a house deposit in Birmingham compared to other Midlands cities and one popular town

New research has revealed that, on average, first-time buyers in the West Midlands are having to save between £17,303 and £42,960 for a house deposit, depending on where they wish to live in the region.

The data, from St. Modwen Homes, shows that despite the deposit figures being substantially higher in some areas, there are some locations in the Midlands where first-time buyers can expect to pay much less. And there are ways they can put down a lower deposit, helping them get onto the property ladder.

Across the Midlands, Stratford-upon-Avon has been revealed as the place where prospective buyers can expect to pay the highest deposits, while Stoke-on-Trent is the most affordable area on average.

The research also shows how much people in Birmingham are having to pay for a house deposit compared to other cities.

Let's take a look at the full breakdown below, ranked from highest average deposit to lowest. These figures have been calculated based on a 10% deposit – the minimum amount most UK banks will accept from first-time buyers.

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