What is the minimum house deposits needed to buy a house all over Birmingham?

Buying a house can be stressful and it’s not helped by the rising cost of living making it harder to save.

Knowing how much to save can add unnecessary stress to what should be an exciting time.

In order to purchase a house, it is recommended that you have at least a five percent deposit in order to secure a mortgage.

To get a better mortgage deal you might need to save more than that 5% and it can be recommended to save either 10 or 20 percent of the house price.

We’ve taken a look at the average house prices all over Birmingham and the minimum 5% and 20% deposits you would have to save to buy a house in those areas.

The cheapest area of Birmingham to purchase a house is Winson Green with an average house price of £122,428 which would only require just over £6,000 as a minimum deposit.

The most expensive area is Longbridge with an average house price of £422,283, meaning in order to buy a house you need to save at least £21,114.15.

Let’s take a look at the full list of areas of Birmingham, their average house prices and the deposit you’d need to save to move there.

Winson Green

Average house price: £122,428

5% deposit: £6,121.40

20% deposit: £24,485.60

Lozells

Average house price: £136,000

5% deposit: £6,800

20% deposit: £27,200

Washwood Heath

Average house price: £139,037

5% deposit: £6,951.85

20% deposit: £27,807.40

Sparkbrook

Average house price: £149,017

5% deposit: £7,450.85

20% deposit: £29,803.40

Aston

Average house price: £153,266

5% deposit: £7,663.3

20% deposit: £30,653.20

Stockland Green

Average house price: £156,498

5% deposit: £7,824.90

20% deposit: £31,299.60

Bordesley Green

Average house price: £156,796

5% deposit: £7839.80

20% deposit: £31,359.20

Highgate

Average house price: £157,038

5% deposit: £7,851.90

20% deposit: £31,407.60

Small Heath

Average house price: £159,966

5% deposit: £7,998.30

20% deposit: £31,993.20

Bartley Green

Average house price: £169,000

5% deposit: £8,450

20% deposit: £33,800

Nechells

Average house price: £173,000

5% deposit: £8,650

20% deposit: £34,600

Kingstanding

Average house price: £177,154

5% deposit: £8,857.70

20% deposit: £35,430.80

Perry Barr

Average house price: £182,417

5% deposit: £9,120.85

20% deposit: £36,483.40

Weoley Castle

Average house price: £188,003

5% deposit: £9,400.15

20% deposit: £37,600.60

Erdington

Average house price: £191,799

5% deposit: £9,589.95

20% deposit: £38,359.80

Shard End

Average house price: £196,879

5% deposit: £9,843.95

20% deposit: £39,375.80

Stechford

Average house price: £197,296

5% deposit: £9864.80

20% deposit: £39,459.20

Smith’s Wood

Average house price: £197,319

5% deposit: £9865.95

20% deposit: £39,463.80

Rubery

Average house price: £198,224

5% deposit: £9,911.2

20% deposit: £39,644.80

South Yardley

Average house price: £198,882

5% deposit: £9,944.1

20% deposit: £39,776.40

Handsworth

Average house price: £201,420

5% deposit: £10,071

20% deposit: £40,284

Yardley

Average house price: £202,719

5% deposit: £10,135.95

20% deposit: £40,543.80

Acocks Green

Average house price: £206,617

5% deposit: £10,330.85

20% deposit: £41,323.40

Sheldon

Average house price: £208,147

5% deposit: £10,407.35

20% deposit: £41,629.40

Hodge Hill

Average house price: £212,247

5% deposit: £10,612.35

20% deposit: £42,449.40

Jewellery Quarter

Average house price: £226,628

5% deposit: £11,331.40

20% deposit: £45,325.60

Quinton

Average house price: £233,536

5% deposit: £11,676.80

20% deposit: £46,707.20

Tyburn

Average house price: £233,602

5% deposit: £11,680.1

20% deposit: £46,720.40

Birmingham City Centre

Average house price: £239,270

5% deposit: £11,963.5

20% deposit: £47,854

Springfield

Average house price: £247,631

5% deposit: £12,381.55

20% deposit: £49,526.20

Kings Heath

Average house price: £249,378

5% deposit: £12,468.90

20% deposit: £49,875.60

Hall Green

Average house price: £255,074

5% deposit: £12,753.70

20% deposit: £51,014.80

Selly Oak

Average house price: £257,659

5% deposit: £12,882.95

20% deposit: £51,531.80

Kings Norton

Average house price: £264,348

5% deposit: £13,217.40

20% deposit: £52,869.60

Northfield

Average house price: £284,315

5% deposit: £14,215.75

20% deposit: £56,863

Bournville

Average house price: £301,561

5% deposit: £15,078.05

20% deposit: £60,312.20

Moseley

Average house price: £328,547

5% deposit: £16,427.35

20% deposit: £65,709.40

Edgbaston

Average house price: £348,321

5% deposit: £17,416.05

20% deposit: £69,664.20

Longbridge

Average house price: £422,283

5% deposit: £21,114.15

20% deposit: £84,456.60

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