Southampton house prices 2022: Salary needed to buy property

But it's reassuring to know you're not the only person in this position as first time buyers are on the rise. 

The number of UK first-time homebuyers has hit its highest level since 2002, according to a new estimate by the Yorkshire Building Society.

More and more people are eager to get on the property ladder, but what does this mean for first time buyers in Southampton? 

Average house prices - UK vs Southampton 

According to data from Zoopla, the average price for a first buyer's home in the UK is £220,000, while a salary of £41,500 is needed to buy a home across the country.

The most popular property type for first time buyers in the UK is a three bedroom terraced house.

However, a higher income is needed for first time buyers hoping to buy a home in Southampton.

The average price for a first buyer's home in the city is £233,000, and a salary of £44,000 is needed to buy a home here.

And the most popular property in Southampton is a three bedroom semi-detached. 

Where do I start?

There are an abundance of things to consider when buying your first home; where is the best place for me in the city/town? Can I afford my ideal home? Do I go for a flat or a house? 

To help with the process, Zoopla has shared some insightful data about buying your first property in Southampton. 

Read on to find out the most popular property type for first time buyers in Southampton, the average price of the property, and the income needed, for each Southampton ward. 

Without further ado, here is everything you need to know about buying your first property in Southampton. 

Sholing

Chadwell Avenue, Sholing. Photo: Google Maps

Average house price for first time buyers (FTBs) - £270,000

Income needed - £51,000

Most popular property for FTBs - Three bedroom semi-detached

Bassett

Average house price for FTBs - £262,000

Income needed - £49,500

Most popular property for FTBs - Two bedroom flat

Millbrook

Average house price for FTBs - £260,000

Income needed - £49,000

Most popular property for FTBs - Three bedroom semi-detached

Swaythling

Bluebell Road, Swaythling. Photo: Google Maps

Average house price for FTBs - £260,000

Income needed - £49,000

Most popular property for FTBs - Three bedroom semi-detached

Peartree

Average house price for FTBs - £250,000

Income needed - £47,000

Most popular property for FTBs - Three bedroom terraced

Coxford

Average house price for FTBs - £250,000

Income needed - £47,000

Most popular property for FTBs - Three bedroom terraced

Bitterne Park

Average house price for FTBs - £250,000

Income needed - £47,000

Most popular property for FTBs - Two bedroom flat

Bitterne

Dean Road, Bitterne. Photo: Google Maps

Average house price for FTBs - £250,000

Income needed - £47,000

Most popular property for FTBs - Three bedroom terraced

Harefield

Average house price for FTBs - £245,000

Income needed - £46,500

Most popular property for FTBs - Three bedroom semi-detached

Woolston

Average house price for FTBs - £240,000

Income needed - £45,500

Most popular property for FTBs - Two bedroom flat

Shirley 

Average house price for FTBs - £240,000

Income needed - £45,500

Most popular property for FTBs - Three bedroom terraced

Bargate 

Average house price for FTBs - £210,000

Income needed - £39,500

Most popular property for FTBs - Two bedroom flat

Redbridge

Average house price for FTBs - £207,500

Income needed - £39,500

Most popular property for FTBs - One bedroom flat

Portswood

Belmont Road, Portswood. Photo: Google Maps

Average house price for FTBs - £200,000

Income needed - £38,500

Most popular property for FTBs - Two bedroom flat

Freemantle 

Average house price for FTBs - £194,500

Income needed - £36,500

Most popular property for FTBs - One bedroom flat

Bevois

Average house price for FTBs - £192,000

Income needed - £36,500

Most popular property for FTBs - One bedroom flat