Newport has been named as the third best city in Wales for first time buyers.

Nnew figures from Wayfair’s First-Time Buyer Index show that it takes an average of just under five years for one person to save for a deposit for their first property.

In Newport that time is 56 months and 20 days - third on the list to Cardiff (44 months) and Wrexham (56 months and 24 days).

The index combines both QoL (Quality of Life) and how long on average it will take buyers to save. Time taken is based on the average household income, average property price, and average monthly savings in each UK city.

The ranking was calculated as a total score out of 100 for each city to find the best in Wales for first-time buyers, by combining the average time it takes a single person to save for a house deposit with the quality of life. 
Newport placed third in the ranking for the best cities for first-time buyers, also taking 57 months to save for the full sum of the deposit- that’s just 4.75 years. 

The average household income is slightly lower than in Wrexham, at £29,883, and property prices also rank higher at an average of £229,554. However, Newport proves adventurous for its impressive QoL score of 186.14, with a very low score for the Traffic Commute Index and a high score for the Healthcare Index.

A spokesman for Wayfair said: “Buying a house can be a long yet exciting process that provides freedom to have creative reign over your new space.

"Our latest research has been compiled to create an index for first-time buyers to assist them in understanding which cities are the best and most achievable for getting on the property ladder.

"Once buyers have the keys to their first home, we look forward to Wayfair helping furnish and decorate their new space to make it their very own unique haven.”