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Chronicle Live
National
Alex McIntyre

North East house prices: The salary needed to buy your first home in each area

Buying your very first home is a daunting step for anybody and no doubt there will be much painstaking research into how much money is needed.

But now new data has revealed exactly the kind of salary that people should be on before getting on the property ladder in the North East.

According to property website Zoopla, the average cost of a home bought by a first time buyer in the country is £220,000.

Figures for the North East show that the median price in the region doesn't come near that average with prices ranging from £125,000 to £66,000.

Newcastle was the second-highest median price at £120,000, behind Darlington on £125,000, while Hartlepool had the lowest with £66,000.

To help potential first time buyers, Zoopla has presented research showing the LTI (loan to income) needed to get your foot on that ladder.

Newcastle

Household income needed: £22,500

Median price for first time buyers: £120,000

Most popular property type: 2-bed flat

Take a look inside this stone-built home on the outskirts of Morpeth with a two acre garden

Gateshead

Household income needed: £20,000

Median price for first time buyers: £105,000

Most popular property type: 2-bed flat

North Tyneside

Household income needed: £22,000

Median price for first time buyers: £117,000

Most popular property type: 3-bed semi

Darlington

Household income needed: £23,500

Median price for first time buyers: £125,000

Most popular property type: 3-bed semi

Sunderland

Household income needed: £15,000

Median price for first time buyers: £80,000

Most popular property type: 3-bed terraced

Stockton-on-Tees

Household income needed: £19,000

Median price for first time buyers: £100,000

Most popular property type: 3-bed semi

South Tyneside

Household income needed: £19,000

Median price for first time buyers: £100,000

Most popular property type: 3-bed semi

Northumberland

Household income needed: £21,000

Median price for first time buyers: £110,000

Most popular property type: 3-bed semi

The most expensive streets in the North East

Middlesbrough

Household income needed: £15,000

Median price for first time buyers: £80,000

Most popular property type: 3-bed terraced

County Durham

Household income needed: £15,000

Median price for first time buyers: £80,000

Most popular property type: 2-bed terraced

Hartlepool

Household income needed: £12,500

Median price for first time buyers: £66,000

Most popular property type: 2-bed terraced

Redcar and Cleveland

Household income needed: £14,000

Median price for first time buyers: £75,000

Most popular property type: 3-bed terraced

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