Prospective buyers in a part of Pembrokeshire will have to find the biggest deposit in all of Wales in order to buy a house, New research has revealed.

The average buyer in Britain’s smallest city, St Davids, will have to save up for the biggest deposit across all of Wales’ cities, with prospective buyers facing a deposit of £34,701.

Brand new research by national housebuilder, St. Modwen Homes, has revealed that, on average, buyers in Wales are having to save between £19,867 and £34,701 for a house deposit, depending on where they wish to live.

St Davids is the place where prospective buyers can expect to pay the highest deposit in Wales, followed by St Asaph at £30,509 and Cardiff at £29,353.

“St Davids is Britain’s smallest city and considered a great place to live due to its stunning natural beauty and strong sense of community,” said St Modwen Homes who commissioned the research.

“The city is situated within the Pembrokeshire Coast National Park, and offers a mix of history, culture, coast and countryside. Although the city may be a beautiful place to live, the average deposit is a huge £34,701, which may be out of reach for some first-time buyers.”

The cheapest city in Wales to buy was revealed as Wrexham at £19, 867.

The figures have been calculated based on a 10 per cent deposit – the minimum amount most UK banks will accept from first-time buyers.

The recent findings may come as disappointing news to many first-time buyers, with 37 per cent already feeling pessimistic about their chances of getting a foot on the property ladder.

In response to the tough market conditions, St. Modwen Homes is offering a 5 per cent Deposit Contribution* incentive for first-time buyers. Gifting prospective homeowners 5 per cent of the property value, it’s hoped the scheme will allow first-time buyers to purchase a new home sooner than they planned.

The scheme is not running in Pembrokeshire, but applies to properties in Swansea and Newport Gwent.

“We’ve heard from hundreds of people who are desperate to buy their first home but feel trapped by the system,” said Jo Winston, sales and marketing director at St. Modwen Homes.

“Our 5 per cent deposit Contribution has been specifically designed to make buying a new house more affordable, easier and quicker for first-time buyers.”

To discover more about St. Modwen Homes’ 5% Deposit Contribution initiative, visit here. Or find your new dream home in Wales at