IF YOU’RE a first-time buyer looking to keep the cost down, then there are few places better than Blaenau Gwent.
Property website Zoopla have trawled through house price data to show how much first-time buyers need to earn to get on the housing ladder in every ward.
They’ve also revealed the average house price for first-time buyers, and the most expensive in Blaenau Gwent is £95,000.
That’s around £100,000 cheaper than the average house price for the whole of Wales - £196,481.
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).
Abertillery
Median house price for first time buyers: £60,000
Income needed to buy: £11,500
Beaufort
Median house price for first time buyers: £75,000
Income needed to buy: £14,000
Blaina
Median house price for first time buyers: £90,000
Income needed to buy: £17,000
Brynmawr
Median house price for first time buyers: £95,000
Income needed to buy: £18,000
(You can buy this 2-bed terraced house in Brynmawr for £85,000. Picture: Zoopla.)
Cwm
Median house price for first time buyers: £75,000
Income needed to buy: £14,000
Cwmtillery
Median house price for first time buyers: £80,000
Income needed to buy: £15,000
Ebbw Vale North
Median house price for first time buyers: £75,000
Income needed to buy: £14,000
OTHER AREAS IN GWENT:
- How much do you need to earn to buy a first home in Newport?
- How much do you need to earn to buy a first home in Torfaen?
- How much do you need to earn to buy a first home in Caerphilly?
Ebbw Vale South
Median house price for first time buyers: £70,000
Income needed to buy: £13,000
Georgetown
Median house price for first time buyers: £80,000
Income needed to buy: £15,000
(You can buy this 2-bed terrace for £77,000. Picture: Zoopla.)
LLanhilleth
Median house price for first time buyers: £68,000
Income needed to buy: £13,000
Nantyglo
Median house price for first time buyers: £80,000
Income needed to buy: £15,000
Sirhowy
Median house price for first time buyers: £80,000
Income needed to buy: £15,000
Tredegar Central and West
Median house price for first time buyers: £63,000
Income needed to buy: £12,000
Six Bells
Median house price for first time buyers: £60,000
Income needed to buy: £11,500
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