The idea of a UK-wide housing market is “illusory”, according to the Council of Mortgage Lenders.
Analysis carried out by the trade body showed the government’s Help-to-Buy initiatives had different effects in different regions because of the UK’s regional markets.
In Northern Ireland first-time buyers borrow on average just £91,000 while in London they have to borrow more than £258,000.
Meanwhile first-time buyers in Wales and Scotland have near identical average household incomes of around £33,000 a year while average house prices are also almost identical.
But first-time buyers in Wales took out larger loans - £108,000 on average compared to £100,000 for Scotland.
The disparity across regions is also true for home-movers, with Londoners taking out an average loan of £324,000 while the Northern Irish take out only £110,000.
In its analysis the CML said: "The data on home mover affordability measures illustrates the different characteristics of movers in different parts of the UK, and shows clearly that the idea of a uniform UK housing market with a ‘one size fits all’ approach for borrowers is illusory.
"Government initiatives, whether introduced across the whole of the UK or by devolved administrations, also affect markets differently in different locations.
"There are some significant differences between Help-to-Buy equity loan schemes in different parts of the UK. And while the Help-to-Buy mortgage guarantee is available across the UK, take-up has been mainly by first-time buyers outside of the London and the south east."
Comparing the data from the second quarter of 2016 with the first quarter showed that the number of first-time buyer loans increased in Wales by 31 per cent, in Scotland by 39 per cent, in Northern Ireland by 18 per cent, but in London by only 3 per cent.
Over the same period, lending to movers in Scotland increased by 11 per cent, but it fell by 6 per cent in Wales, by 7 per cent in Northern Ireland, and by 37 per cent in London.
Remortgaging also varied by region. In Northern Ireland, it has been relatively static since the recession, but grew by 25 per cent in the second quarter of this year. In Wales, it increased by 8 per cent, in Scotland by 11 per cent, and in London by 5 per cent.
