MORE and more first-time buyers are looking to Caerphilly as a way to escape the rising prices of buying in Newport and Cardiff.
Indeed, the average price first-time buyers are forking out for a property in Newport is just under 25 per cent more than in Caerphilly.
First-time buyers in Caerphilly spend, on average, £129, 648 as opposed to £164, 503 in Newport.
Now, property website Zoopla have worked out exactly how much household income you’d need to earn to buy your first home in every ward.
The data is based on the median house price and the assumption of a loan to income ratio of 4.5 per cent and 85 per cent loan to value – the percentage of the property value you’re loaned as a mortgage (in other words, the proportion you’re borrowing).
Aberbargoed
Median house price for first-time buyers: £97,000
Joint income needed to buy: £18,500
Abercarn
Median house price for first-time buyers: £105,000
Joint income needed to buy: £20,000
Aber Valley
Median house price for first-time buyers: £100,000
Joint income needed to buy: £19,000
Argoed
Median house price for first-time buyers: £95,000
Joint income needed to buy: £18,000
Bedwas
Median house price for first-time buyers: £145,000
Joint income needed to buy: £27,500
You can get this 3-bed end terrace house for £140,000. Picture: Zoopla.
Blackwood
Median house price for first-time buyers: £102,000
Joint income needed to buy: £19,500
Crosskeys
Median house price for first-time buyers: £130,000
Joint income needed to buy: £24,500
Crumlin
Median house price for first-time buyers: £90,000
Joint income needed to buy: £17,000
Darren Valley
Median house price for first-time buyers: £80,000
Joint income needed to buy: £15,000
Hengoed
Median house price for first-time buyers: £123,000
Joint income needed to buy: £23,000
You can get this 3-bed detached house, which comes with a conservatory, for £115,000. Picture: Zoopla.
Llandbradach
Median house price for first-time buyers: £125,000
Joint income needed to buy: £23,500
Machen
Median house price for first-time buyers: £145,000
Joint income needed to buy: £27,500
Moriah
Median house price for first-time buyers: £74,000
Joint income needed to buy: £14,000
Morgan Jones
Median house price for first-time buyers: £145,000
Joint income needed to buy: £27,500
Newbridge
Median house price for first-time buyers: £100,000
Joint income needed to buy: £19,000
New Tredegar
Median house price for first-time buyers: £58,000
Joint income needed to buy: £11,000
Pengam
Median house price for first-time buyers: £125,000
Joint income needed to buy: £23,500
Penmaen
Median house price for first-time buyers: £140,000
Joint income needed to buy: £26,500
(This spacious 4-bed is on offer for £140,000. Picture: Zoopla.)
Penyrheol
Median house price for first-time buyers: £135,000
Joint income needed to buy: £25,500
Pontllanfraith
Median house price for first-time buyers: £110,000
Joint income needed to buy: £21,000
Pontlottyn
Median house price for first-time buyers: £88,000
Joint income needed to buy: £16,500
Risca East
Median house price for first-time buyers: £125,000
Joint income needed to buy: £23,500
Risca West
Median house price for first-time buyers: £125,000
Joint income needed to buy: £23,500
(This Risca property is on the market for £110,000. Picture: Zoopla.)
St. Cattwg
Median house price for first-time buyers: £119,000
Joint income needed to buy: £22,500
St. James
Median house price for first-time buyers: £110,000
Joint income needed to buy: £21,000
St. Martins
Median house price for first-time buyers: £160,000
Joint income needed to buy: £30,000
Trethomas
Median house price for first-time buyers: £145,000
Joint income needed to buy: £27,500
Ynysddu
Median house price for first-time buyers: £88,000
Joint income needed to buy: £16,500
Ystrad Mynach
Median house price for first-time buyers: £125,000
Joint income needed to buy: £23,500
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