This is how much you need to earn to buy your first house in Leeds

Those hoping to jump onto the property ladder in Leeds need to earn £35,500 a year to afford the price of property in the city.
First time buyers in Leeds need to earn more than 35,500 to afford their first home (Photo: Shutterstock)First time buyers in Leeds need to earn more than 35,500 to afford their first home (Photo: Shutterstock)
First time buyers in Leeds need to earn more than 35,500 to afford their first home (Photo: Shutterstock)

This is a 13 per cent jump in the last three years as house prices continue to rise and wages stagnate.

It makes Leeds a more expensive city to buy your first house in than Liverpool, Glasgow and Newcastle.

First time buyers in Leeds need to earn more than 35,500 to afford their first home (Photo: Shutterstock)First time buyers in Leeds need to earn more than 35,500 to afford their first home (Photo: Shutterstock)
First time buyers in Leeds need to earn more than 35,500 to afford their first home (Photo: Shutterstock)
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The figures are based on the assumption that 30 per cent of household income would be spent on mortgage costs with the total mortgage cost capped at four times annual income.

Deposit levels for the analysis are also set at 15 per cent for regional cities and at 25 per cent for London, Oxford and Cambridge.

Three per cent rise in prices

Leeds also saw a 3.4 per cent rise in house prices in May compared to the same time last year, according to the research from property website Zoopla.

This is behind the strong growth markets of Liverpool and Belfast which saw increases of 5 and 4.6 per cent respectively.

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However, Leeds is well ahead of Aberdeen and even Cambridge and London in terms of growth, with those cities seeing a 4.2, 0.5 and 0.4 per cent drop in house prices respectively compared to last year.

Still cheaper than most big cities

Despite the rise in the amount first time buyers need to earn before being able to afford their first home, those searching for property in Leeds are still likely to spend less than in other cities.

For example, those living in Manchester would need to earn £36,200 before being able to afford a new house, while in Cardiff the figure is £44,600 and in Bristol it is as high as £59,500.

Those salaries pale into insignificance when compared to London, Oxford and Cambridge who have seen the most substantial rise in house prices in the last 25 years.

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To afford a new house in Oxford, a first time buyer would need to earn £68,800, in Cambridge the figure stands at £72,000 while in London it is a whopping £84,000.

The amount you need to earn to buy a first home for each city is listed below;

Liverpool - £26,100 (14% up)

Glasgow - £26,600 (14% up)

Newcastle - £27,200 (7% up)

Belfast - £28,800 (13% up)

Sheffield - £29,500 (14% up)

Nottingham - £32,900 (18% up)

Aberdeen - £33,700 (12% down)

Birmingham - £35,200 (19% up)

Leeds - £35,500 (13% up)

Manchester - £36,200 (19% up)

Leicester - £38,000 (20% up)

Cardiff- £44,600 (14% up)

Southampton, £48,500, 10% up)

Edinburgh, £48,700, 17% up)

Portsmouth, £50,700, 12% up)

Bristol, £59,500, 12% up)

Bournemouth - £62,300 (13% up)

Oxford - £68,800, 3%down)

Cambridge - £72,000 (5% down)

London - £84,000 (4% down)