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Essex House Prices

Essex House Prices

An interesting article published by Essex Live News on house prices in Essex. How much do first-time buyers need to secure their first home?

Essex house prices: The salary you need to buy a first home in each town

After months of staring at the same four walls, many of us have been itching to find a new place to call our own.

For those of you buying your first ever home, this is a big step – and not always an easy one.

House Prices in Essex
Essex House Prices

 

While it is super exciting to find the first house, it can also be quite daunting.

In some parts of Essex, property prices can be ridiculously high and just not realistic for your first-time buy.

It’s really important to work out what you can afford and where best to look.

The prospect of Rishi Sunak’s announcement on a stamp duty holiday tomorrow could be a big boost for those looking to get into the housing market, though it doesn’t apply anyway to houses valued less than £300,000.

Thankfully, Zoopla has revealed exactly how much you need to be earning to buy a home in Essex.

This is how much you will need to earn to buy a home in Essex:

Braintree

  • Household income you’ll need to buy: £61,000
  • Average house price for first time buyers: £275,000
  • Most common property for first time buyers: Three bedroom semi-detached

Colchester

  • Household income you’ll need to buy: £54,500
  • Average house price for first time buyers: £245,300
  • Most common property for first time buyers: Three bedroom semi-detached

Tendring

  • Household income you’ll need to buy: £46,750
  • Average house price for first time buyers: £210,000
  • Most common property for first time buyers: Three bedroom semi-detached

Maldon

  • Household income you’ll need to buy: £64,500
  • Average house price for first time buyers: £290,300
  • Most common property for first time buyers: Three bedroom semi-detached

Chelmsford

  • Household income you’ll need to buy: £73,250
  • Average house price for first time buyers: £330,000
  • Most common property for first time buyers: Two bedroom flat

Rochford

  • Household income you’ll need to buy: £70,000
  • Average house price for first time buyers: £315,000
  • Most common property for first time buyers: Two bedroom detached

Southend-on-Sea

  • Household income you’ll need to buy: £64,500
  • Average house price for first time buyers: £290,000
  • Most common property for first time buyers: Two bedroom flat

Castle Point

  • Household income you’ll need to buy: £66,750
  • Average house price for first time buyers: £300,000
  • Most common property for first time buyers: Three bedroom semi-detached

Basildon

  • Household income you’ll need to buy: £64,500
  • Average house price for first time buyers: £289,995
  • Most common property for first time buyers: Three bedroom terraced

Thurrock

  • Household income you’ll need to buy: £66,750
  • Average house price for first time buyers: £300,000
  • Most common property for first time buyers: Three bedroom terraced

Barking and Dagenham

  • Household income you’ll need to buy: £66,750
  • Average house price for first time buyers: £300,000
  • Most common property for first time buyers: Two-bedroom flat

Havering

  • Household income you’ll need to buy: £95,500
  • Average house price for first time buyers: £429,500
  • Most common property for first time buyers: Two-bedroom flat

Epping Forest

  • Household income you’ll need to buy: £87,750
  • Average house price for first time buyers: £395,000
  • Most common property for first time buyers: Three bedroom terraced

Brentwood

  • Household income you’ll need to buy: £89,000
  • Average house price for first time buyers: £400,000
  • Most common property for first time buyers: Two bedroom flat

Uttlesford

  • Household income you’ll need to buy: £86,750
  • Average house price for first time buyers: £389,975
  • Most common property for first time buyers: Two bedroom flat

Harlow

  • Household income you’ll need to buy: £64,500
  • Average house price for first time buyers: £290,000
  • Most common property for first time buyers: Three bedroom semi-detached

 

See the full article at Essex News Live 

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