NEWPORT is becoming an increasingly popular destination for those looking to buy homes – especially for first-time buyers.
And demand is set to grow with the scrapping of the Severn Crossing tolls, easy transport links and increase in new-build homes.
Indeed, house prices in Newport have risen by 4.7 per cent over the last year, with the average house price now £198,252.
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).
Allt-yr-yn
Household income needed to buy: £30,000
Media house price for first time buyers: £160,000
Alway
Household income needed to buy: £26,500
Median house price for first time buyers: £140,000
Bettws
Household income needed to buy: £22,500
Median house price for first time buyers: £120,000
(You can buy this semi-detached house in Bettws for £155,000).
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Beechwood
Household income needed to buy: £24,500
Median house price for first time buyers: £130,000
Caerleon
Household income needed to buy: £38,000
Median house price for first time buyers: £200,000
(This 3 bed semi-detached is available for £185,000 in Caerleon. Image Zoopla.)
Gaer
Household income needed to buy: £26,500
Median house price for first time buyers: £140,000
Graig
Household income needed to buy: £38,000
Median house price for first time buyers: £200,000
Liswerry
Household income needed to buy: £22,500
Median house price for first time buyers: £120,000
Llanwern
Household income needed to buy: £30,000
Median house price for first time buyers: £160,000
Malpas
Household income needed to buy: £25,500
Median house price for first time buyers: £135,000
(You can buy this 4 bed terraced house for £119,000. Picture: Zoopla.)
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Marshfield
Household income needed to buy: £29,500
Median house price for first time buyers: £155,000
Pill
Household income needed to buy: £21,000
Median house price for first time buyers: £110,000
Ringland
Household income needed to buy: £22,500
Median house price for first time buyers: £120,000
Rogerstone
Household income needed to buy: £32,000
Median house price for first time buyers: £170,000
(You can buy this 2 bed terrace in Rogerstone for £149,950. Picture: Zoopla.)
St Julians
Household income needed to buy: £23,500
Median house price for first time buyers: £125,000
Shaftesbury
Household income needed to buy: £24,000
Median house price for first time buyers: £128,000
Tredegar Park
Household income needed to buy: £32,000
Median house price for first time buyers: £170,000
Victoria
Household income needed to buy: £22,500
Median house price for first time buyers: £120,000
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